ENFORCEMENT

Enforcement

ECB Set to Impose First Fines Over Climate Risk – Report

By Editors | 31/05/2024

As many as four banks are said to be already accruing daily fines, though mitigating factors could be taken into account.

AML / KYC

Switzerland Fines UBS for Yemen-Linked AML Failures

By Editors | 31/05/2024

The bank failed to perform its due diligence obligations and to report suspicious transactions linked to Yemen’s former president.

Enforcement

RBI Imposes Restrictions on Two Edelweiss Group Firms

By Ajoy K Das | 31/05/2024

The Edelweiss companies were found to be acting in concert to “evergreen” stressed loans and circumvent regulations.

Enforcement

SEBI Launches Beta Version of Settlement Calculator

By Ajoy K Das | 31/05/2024

The settlement calculator will help to simplify the process of arriving at indicative amounts for settling probes by SEBI.

Enforcement

Chinese Court Hands Death Sentence to Former Huarong Official

By Editors | 30/05/2024

Bai Tianhui is the second Huarong official to receive a death sentence for corruption after Lai Xiaomin in 2021.

Crypto / Digital Assets

‘Gemini Earn’ Investors Secure Return of $2b in Crypto Assets

By Editors | 30/05/2024

Investors are receiving their digital assets “in kind”, meaning they benefit from crypto price increases since withdrawals were halted in January 2023.

AML / KYC

AUSTRAC Accepts Enforceable Undertaking from Sportsbet

By Sanday Chongo Kabange | 30/05/2024

The undertaking binds the online betting company to an ongoing remedial action plan to improve its AML/CTF programme.

Enforcement

HK Jury Convicts Three in Landmark Manipulation Case

By Sanday Chongo Kabange | 30/05/2024

This was the first time an offence under the SFO has been tried at Hong Kong’s Court of First Instance.

Crypto / Digital Assets

Authorities Take Down “World’s Largest” Malicious Botnet

By Editors | 30/05/2024

US authorities, with international partners, arrested the botnet’s administrator and seized infrastructure and assets.