Enforcement

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    Enforcement

    MUFG Pledges to Prevent Recurrence of ‘Firewall’ Breaches

    By Editors | 22/07/2024

    MUFG will cut the pay of several top executives and has pledged to implement specific improvement measures to prevent any recurrence.

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    Enforcement

    US SEC Sets Up Interagency Securities Council to Combat Fraud

    By Nithya Subramanian | 22/07/2024

    The objective of the new council is to strengthen collaboration between federal, state, and local agencies to protect investors from fraud.

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    AML / KYC

    Singapore Says Jho Low Red Notice Remains in Effect

    By Nithya Subramanian | 22/07/2024

    Jho Low’s civil settlement with the US DOJ has “no bearing” on criminal investigations against him and his associates in Singapore.

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    Enforcement

    Visa Suspected of Violating Japan’s Antimonopoly Act – Reports

    By Editors | 21/07/2024

    The FTC is probing Visa’s local unit and plans to explore whether its US headquarters and Singapore unit played a role in the suspected violations.

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    Sanctions

    OFAC Sanctions Two Members of the ‘Cyber Army of Russia’

    By Editors | 21/07/2024

    Two Russian nationals separately pleaded guilty to participating in LockBit ransomware attacks, the DOJ announced separately.

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    Enforcement

    Amex Fined in Australia for Issuing Unsuitable Credit Cards

    By Editors | 20/07/2024

    The decision highlights requirements for product issuers to actively review whether their target market determinations remain appropriate over time.

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    Enforcement

    Ex-Goldman, Blackstone Analyst Sentenced for Insider Trading

    By Editors | 19/07/2024

    The former analyst passed MNPI to a friend and a family member who made a combined $400,000 in illegal profits.

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    AML / KYC

    Taiwan FSC Imposes AML Fine on Crypto Firm ACE Exchange

    By Editors | 19/07/2024

    ACE Exchange failed to verify customer identities and to set different transaction monitoring thresholds based on customer risk levels, among other violations.

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    Enforcement

    APRA Reduces Westpac’s Operational Risk Capital Add-on

    By Sanday Chongo Kabange | 19/07/2024

    APRA reduced Westpac’s A$1bn operational risk capital add-on by half in response to progress made to address risk governance concerns.

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    Enforcement

    Switzerland Has Pursued 56 Cases Involving Russia Sanctions Violations

    By Editors | 19/07/2024

    Out of 56 administrative penal proceedings, 26 were dropped, 15 resulted in penalties, and the others remain under investigation.

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