Enforcement

Enforcement

Australia Convicts Ex-Crypto Promoter for Unlicensed Financial Advice

By Sanday Chongo Kabange | 16/07/2024

John Bigatton was convicted for providing unlicensed financial advice when he promoted BitConnect in seminars and on social media.

Enforcement

ASIC Intervenes to Secure Fee Refunds for Bank Customers

By Sanday Chongo Kabange | 16/07/2024

ANZ, Bendigo and Adelaide Bank, CBA and Westpac will refund over A$28mn to low-income customers who were charged inappropriately high fees.

Crypto / Digital Assets

FSC Korea Issues Regulations for New Virtual Assets Law

By Manesh Samtani | 16/07/2024

The regulations specify how the virtual asset market will be supervised and illegal activities will be investigated. The new law takes effect on Friday.

Enforcement

FSS Korea Launches Bank Inspections to Assess Lending

By Editors | 16/07/2024

The FSS will assess whether banks are managing loans appropriately and complying with the DSR limits and other regulations.

Enforcement

Former China Taiping Official Pleads Guilty on Bribery Charges

By Editors | 15/07/2024

Xiao Xing took CNY 81 million in bribes over more than 25 years while serving as a senior government official and as a senior executive at two state-owned insurers.

Enforcement

Japan Makes First Arrest for Russia Export Control Violation

By Editors | 15/07/2024

A Russian national operating a trading company in Osaka was arrested for illegally exporting restricted goods to Russia via South Korea.

Sanctions

Czech Republic Convicts Local Resident for Sanctions Violation

By Editors | 15/07/2024

A Czech national of Russian origin tried to export three luxury cars to Russia, which has been prohibited since March 2022.

Enforcement

Hong Kong, China Collaborate to Probe PwC’s Evergrande Audit

By Nithya Subramanian | 15/07/2024

Under a 2019 agreement, China’s Ministry of Finance and Hong Kong’s AFRC can  provide assistance to each other in their investigations.

AML / KYC

Crypto Firm BitMEX Pleads Guilty to US Criminal Charge

By Editors | 15/07/2024

BitMEX said its founders were already sentenced for BSA charge in 2022 and that it has since fully remediated its deficiencies and will seek an expedited sentencing hearing.