Enforcement

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    AML / KYC

    China’s Top Court Issues Guidelines on Money Laundering Cases

    By Manesh Samtani | 19/08/2024

    Concealment or disguise of criminal proceeds, including through the use of virtual assets, will be punished as money laundering offences.

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    Enforcement

    Korean Expands Probe into Unfair Practices in ETF Market

    By Editors | 19/08/2024

    The FSS is investigating whether asset managers had help from group affiliates to increase the net asset values of ETFs they issued.

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    AML / KYC

    Hong Kong Court Sets Precedent for Crypto Transparency

    By Manesh Samtani | 19/08/2024

    The court ordered defendants in a crypto fraud and mismanagement case to provide detailed information about their holdings and transactions.

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    AML / KYC

    Lithuania Intensifying Crackdown on Sanctions Evasion Activities

    By Editors | 19/08/2024

    Over 50 investigations relating to sanctions breaches have been opened in Lithuania. Rulings in several cases have already been issued.

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    AML / KYC

    Singapore, HK and Interpol Dismantle Money Laundering Syndicate

    By Nithya Subramanian | 19/08/2024

    The transnational criminal group based in Hong Kong laundered proceeds from technical support scams in Singapore.

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    Enforcement

    US SEC Fines ATS Operator OTC Link for AML Failings

    By Editors | 18/08/2024

    OTC Link did not file a single SAR over 38 months. Its AML department consisted of only two individuals who together spent just five hours per month reviewing trading alerts.

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    AML / KYC

    Myanmar Charges Tycoon Over Use of Scam Centre Proceeds

    By Editors | 18/08/2024

    The former executive chair of privately owned Yoma Bank allegedly used criminal proceeds from online scam centres to invest in a real estate project.

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    Enforcement

    US Man Arrested Over Attempts to Export Aircraft Components to Iran

    By Editors | 17/08/2024

    Jeffrey Chance Nader falsely identified himself to suppliers as the end user of the components, which he attempted to export to the UAE for transshipment to Iran.

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    Fintech / Regtech

    Korea: FSS Probe Reveals Data Sharing Breaches by KakaoPay

    By Nithya Subramanian | 16/08/2024

    The FSS found that KakaoPay shared personal and credit information of tens of millions of users with Alipay without their consent.

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    Enforcement

    US Treasury Offers Additional Transparency on CFIUS Enforcements

    By Editors | 15/08/2024

    More information is now available about CFIUS enforcement actions imposed since 2022, the largest being a $60m penalty against T-Mobile.

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