Enforcement

AML / KYC

Singapore Releases Two Reports Tackling Terrorism Financing

By Nithya Subramanian | 02/07/2024

The updated TF National Risk Assessment found that money remittances remain High-Risk, while the refreshed strategy for CFT calls for robust regulatory regimes.

Enforcement

China: New Law Strengthens Penalties for Accounting Fraud

By Editors | 02/07/2024

The new Accounting Law significantly increases penalties for financial fraud and for the first time includes the phrase “internal control”.

Enforcement

US SEC’s Use of In-house Judges Ruled Unconstitutional

By Editors | 02/07/2024

The ruling curbs the SEC’s internal adjudication powers and is expected to also impact more than two dozen US agencies.

AML / KYC

US Sanctions Two Chinese Nationals for Assisting Sinaloa Cartel

By Editors | 01/07/2024

The sanctions include two China-based targets who helped launder illicit drug proceeds belonging to Mexico’s Sinaloa Cartel.

Enforcement

US DOJ, Jho Low Reach Global Pact on 1MDB Asset Forfeiture: Report

By Nithya Subramanian | 01/07/2024

The agreement forever resolves the United States’ civil, criminal and administrative asset forfeiture actions of monies and assets traceable to 1MDB.

Enforcement

Federal Court Orders Ferratum Australia to Pay A$16m

By Editors | 28/06/2024

The Court found that Ferratum’s non-compliance arose from its Finland-based parent company’s lack of attention to Australian regulatory requirements

AML / KYC

Taiwanese Singer Facing Prosecution Over JPEX Crypto Fraud

By Editors | 28/06/2024

Popular Taiwanese singer Nine Chen reportedly received 320,000 USDT to act as JPEX’s brand ambassador last year.

AML / KYC

US DOJ to Recover Additional $100mn in 1MDB Case

By Nithya Subramanian | 27/06/2024

Jho Low will forfeit a luxury apartment in Paris and artworks by Andy Warhol and Claude Monet purchased for USD 35 million.

Enforcement

SFC Bars Former Securities Exec Over Secret Trading Account

By Sanday Chongo Kabange | 27/06/2024

The former chief operations officer of DA International Financial Service violated the company’s employee dealing policy.