ENFORCEMENT

AML / KYC

UK FCA Probes Lloyds Banking Group Over AML Controls

By Mark Johnston | 26/02/2024

Lloyds said it is cooperating with the investigation and it is “not currently possible” to estimate the potential financial impact, if any.

Enforcement

MAS, SPF Probe Samlit Moneychanger for Fraudulent Activities

By Nithya Subramanian | 26/02/2024

The money remittance company has informed the Monetary Authority of Singapore that it is planning to surrender its payment services licence.

Crypto / Digital Assets

S. Korea Has a New System for Tracking Crypto Tax Evaders

By Mark Johnston | 25/02/2024

Gyeonggi Province has been using a new digital tracking system that reduces investigation times from 6 months to just 15 days.

Crypto / Digital Assets

HK Crime Cases Involving Crypto Have Tripled Since 2021

By Mark Johnston | 25/02/2024

The SFC and police recorded 3,415 cases of virtual asset crimes in 2023, involving around HKD 4.4 billion (USD 562 million).

Enforcement

Montenegro Court to Extradite Do Kwon to the US, Not Korea

By Mark Johnston | 23/02/2024

Montenegro’s High Court decided to approve the US extradition request over South Korea’s, citing the gravity of the charges and the evidence presented by US authorities.

Capital / Liquidity

Thai SEC Passes Resolution to Revoke Zipmex Crypto Licence

By Editors | 23/02/2024

The SEC says Zipmex’s business licence needs to be revoked to prevent further harm to clients’ interests, after the company failed to resolve deficiencies by another deadline.

Enforcement

US Unveils Five Enforcement Actions Involving Russian Oligarchs

By Editors | 23/02/2024

The actions, including charges against the CEO of Russia’s VTB Bank, were unveiled just ahead of the two-year anniversary of the war in Ukraine.

Enforcement

FSC Korea Warns the Consumer Finance Association for Violations

By Mark Johnston | 23/02/2024

The FSC has issued a warning to the CFA and its chairman for violating the law and obstructing the FSS inspection.

Crypto / Digital Assets

Cybercrime Group LockBit Has Been Dismantled

By Manesh Samtani | 21/02/2024

Law enforcement from ten countries have disrupted the criminal operation of the LockBit ransomware group.