Enforcement

Sanctions

Sanctioned Russian Billionaire Files Lawsuit Against UBS – Reports

By Editors | 19/06/2024

Alisher Usmanov claims that STRs filed by UBS were “unsubstantiated, if not knowingly false” and triggered an illegal criminal investigation against him.

Enforcement

CFTC Settles Charges Against Trafigura for $55m

By Manesh Samtani | 18/06/2024

This is the first time the CFTC has taken action against a firm for impeding whistleblower communications, a move being criticised by two commissioners.

Enforcement

‘Gemini Earn’ Investors Secure Full Recovery of Crypto Assets

By Editors | 18/06/2024

The NYAG’s claims against Gemini are now fully resolved, with Gemini Earn users receiving full recovery of the digital assets owed to them.

Enforcement

Asian Police Bust Multi-Jurisdiction Malware Scam Syndicate

By Sanday Chongo Kabange | 18/06/2024

Police in Hong Kong, Singapore, Malaysia and Taiwan jointly targeted a group involved in malware-enabled scams.

Enforcement

SFC Bans Ex-Licensee for Creating False Product Flashes

By Sanday Chongo Kabange | 18/06/2024

The former director of Primas Asset Management is banned for 12 months for creating and sending false product flashes to a client.

AML / KYC

Japan to Tighten AML Controls to Target Organised Crime

By Manesh Samtani | 18/06/2024

Prompted by a $444mn money laundering case, Japanese regulators will ask banks to do more to detect criminal abuse of accounts.

AML / KYC

MAS, CAD Investigating Seatrium Over ‘Operation Car Wash’

By Editors | 16/06/2024

Seatrium disclosed that MAS and the Singapore police have requested further information for a joint investigation.

Crypto / Digital Assets

Japan Regulator Issues Orders Against Crypto Firm CoinBest

By Editors | 15/06/2024

CoinBest’s IEO operations are suspended and the company is required to make improvements to its management, internal control and AML/CFT systems.

Enforcement

Japan FSA Considers Penalties for MUFG Entities

By Editors | 15/06/2024

Japan’s SESC has formally recommended penalties for three MUFG units for unauthorised sharing of client information.