ENFORCEMENT

Enforcement

DOJ Secures Guilty Plea in Russia Export Control Case

By Editors | 08/06/2024

A US-Russian national sent firearm parts, components, and ammunition from the US to Russia, including via Kazakhstan.

AML / KYC

Australia Court Orders SkyCity to Pay A$67m AML Penalty

By Sanday Chongo Kabange | 07/06/2024

SkyCity’s failures “over many years allowed high-risk customers to move millions of dollars through the casino”.

Enforcement

CSRC Addresses Market Fears About Stock Delistings

By Editors | 07/06/2024

The CSRC said there won’t be a significant increase in the number of delisted companies in the short term.

Enforcement

Japan FSA May Take Action Against MUFG Entities – Report

By Nithya Subramanian | 07/06/2024

MUFJ Bank and two affiliated securities firms allegedly shared nonpublic client information without consent.

AML / KYC

Vietnam Death Row Tycoon Faces Money Laundering Charges

By Nithya Subramanian | 07/06/2024

Vietnamese police have concluded the second phase of their investigation into Truong My Lan, who was sentenced to death in April.

Enforcement

ASIC Investigating Financial Hardship Practices at Lenders

By Manesh Samtani | 07/06/2024

ASIC commenced court action against one major bank last year. Three other lenders are under formal investigation.

Enforcement

Myanmar Cracks Down on Cross-border Remittances

By Editors | 06/06/2024

“Hundi” cash transfer services and overseas property deals are being blamed for a severe depreciation of Myanmar’s currency.

AML / KYC

17 Others Involved in Singapore Money Laundering Probe – Report

By Nithya Subramanian | 06/06/2024

The SGD 3 billion in cash and assets seized or issued with prohibition of disposal orders belonged to 27 individuals, not just the 10 accused so far.

Crypto / Digital Assets

Japan FSA Directs Crypto Firm to Report on $300m Theft

By Editors | 06/06/2024

The FSA directed DMM Bitcoin to investigate and report on the cause of the theft. The government will monitor these efforts and “respond appropriately”.