Enforcement

AML / KYC

US Fed Imposes Conditions on Customers Bank for AML Deficiencies

By Manesh Samtani | 12/08/2024

The Fed cited risk management deficiencies relating to an instant payments platform used to enable crypto firms to make around-the-clock US dollar payments.

Crypto / Digital Assets

NY Fed Assesses Effectiveness of Tornado Cash Sanctions

By Editors | 11/08/2024

The study found that non-cooperation with the Tornado Cash sanctions was not monetarily driven, but instead motivated by “philosophical reasons”.

AML / KYC

Four Arrested by HK Customs in HK$1.5b Money Laundering Case

By Editors | 10/08/2024

The arrestees allegedly used 39 bank accounts, six shell companies and cryptocurrency to launder crime proceeds from across the APAC region.

Enforcement

US Man Arrested for Facilitating DPRK Remote IT Worker Fraud

By Editors | 10/08/2024

DOJ said Matthew Isaac Knoot enabled North Korean IT workers to work for US and UK companies from locations in China, and laundered money for them.

Enforcement

FSC Korea to Expand Enforcement Toolkit to Target Unfair Trading

By Editors | 09/08/2024

Those found engaging in unfair trading activities will face a 10-year ban on trading in the capital market and potentially have their names disclosed publicly.

Enforcement

Evergrande Liquidators Are Suing PwC for Damages – Report

By Editors | 09/08/2024

The writ of summons accuses PwC of breach of contract, breach of duty, misrepresentation, negligence, and/or unjust enrichment.

Crypto / Digital Assets

US Court Approves $12.7B Settlement Between CFTC, FTX

By Editors | 09/08/2024

The CFTC’s Ian McGinley said the settlement represents the largest recovery for investors in the regulator’s history.

Crypto / Digital Assets

Singapore Court Sentences Crypto CTO for Investment Scam

By Ranamita Chakraborty | 09/08/2024

Wang Xinghong developed a crypto mining app that allowed A&A Blockchain to input fake numbers to misrepresent investor returns.

Enforcement

Asset Manager H2O Avoids UK Fine by Agreeing to Repay Investors

By Editors | 09/08/2024

The FCA decided not to impose a fine despite “extremely serious” regulatory breaches that resulted in investors being trapped in funds since 2020.