Enforcement

AML / KYC

India’s Adani Group Defends Against Allegations of Swiss Probe

By Ajoy K Das | 17/09/2024

Hindenburg Research says $310mn of Adani Group’s funds have been frozen in Switzerland in connection with a money laundering probe.

Capital / Liquidity

Singapore Probes Payment Delays at E-Commerce Platform

By Nithya Subramanian | 16/09/2024

After Qoo10 failed to pay merchants in South Korea, there are reports of payment delays also affecting small vendors in Singapore.

Crypto / Digital Assets

US SEC Fines eToro $1.5m for Not Registering Crypto Services

By Nithya Subramanian | 16/09/2024

As part of the settlement, eToro is required to delist 102 crypto tokens, leaving only Bitcoin, Bitcoin Cash, and Ether available to investors.

Enforcement

UK Set to Launch Office of Trade Sanctions Implementation

By Editors | 16/09/2024

The office will be responsible for the civil enforcement of certain trade sanctions as they relate to UK services and overseas trade with a UK nexus.

Enforcement

China Fines PwC $62m, Suspends Firm for Six Months

By Manesh Samtani | 14/09/2024

PwC’s China unit helped Evergrande’s mainland flagship unit, Hengda Real Estate Group, to overstate its revenue by CNY 564 billion from 2018 to 2020.

AML / KYC

Korea Offering Rewards for Self-Reporting of Fraud Crimes

By Editors | 13/09/2024

The National Police Agency said those who self-report fraud crimes will be considered for more lenient sentencing as well as monetary rewards.

Enforcement

US Firm Deere & Co Fined $10m in Thailand Bribery Case

By Mark Johnston | 13/09/2024

The company’s subsidiary paid bribes to Thai officials to win government contracts and employees at another company to win sales.

AML / KYC

OFAC Sanctions Cambodian Tycoon for Scam Centre Operations

By Manesh Samtani | 13/09/2024

Billionaire Ly Yong Phat was sanctioned for his role in human trafficking and human rights abuses tied to scam centre operations he controls in Cambodia.

Enforcement

China Requiring Investment Bankers to Hand In Passports – Report

By Editors | 13/09/2024

Three high-profile investment bankers have been detained since August, amid intensified scrutiny of IPOs and other capital-raising activity.