Enforcement

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    Enforcement

    US SEC Asks Court to Force Terraform Labs and Founder to Pay $5.3b

    By Mark Johnston | 25/04/2024

    The SEC argues that Terraform Labs and Do Kwon have not shown remorse for their conduct and are likely to commit additional violations.

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    Enforcement

    Former Bank of China Chairman Pleads Guilty to Bribery Charges

    By Editors | 25/04/2024

    Liu Liange facilitated CNY 3.32 billion in loans to enterprises that did not meet the relevant requirements, resulting in losses of over CNY 190 million.

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    Enforcement

    Singapore Court Sentences Money Mule to 10 Years Jail

    By Nithya Subramanian | 25/04/2024

    Muhammad Zahir Johana allowed his Singpass credentials to be used to open bank accounts that were used to receive scam proceeds.

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    AML / KYC

    EU Parliament Adopts AMLD6 and Related Regulations

    By Mark Johnston | 25/04/2024

    The legislation now awaits formal adoption by the European Council before being published in the EU’s Official Journal.

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    Enforcement

    Global Operation Takes Down ‘LabHost’ Cybercrime Service

    By Mark Johnston | 25/04/2024

    LabHost offered a service since 2021 that enabled over 10,000 cybercriminals to create fake websites and conduct phishing campaigns.

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    Enforcement

    US Hedge Fund Sues Over Credit Suisse AT1 Bond Losses

    By Mark Johnston | 25/04/2024

    The lawsuit accuses Credit Suisse’s CEO and former Chairman of misrepresenting the bank’s liquidity position while it was facing a deposit run.

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    Enforcement

    US DOJ Proposes 36-Month Prison Sentence for Binance Founder

    By Mark Johnston | 25/04/2024

    The DOJ said the sentence must be significant to effectively punish Changpeng Zhao and to deter others who are tempted to break US laws.

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    Enforcement

    RBI Imposes Business Restrictions on Kotak Mahindra Bank

    By Ajoy K Das | 25/04/2024

    The bank is prohibited from onboarding new customers and issuing fresh credit cards due to long-standing IT risk management deficiencies.

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    Enforcement

    Taiwan FSC Penalises Shin Kong Financial Holding and Subsidiary

    By Mark Johnston | 25/04/2024

    Shin Kong Life Insurance’s capital adequacy ratios fell below the required minimum. Its capital increase plan lacked specificity and timelines.

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    Enforcement

    Indian NBFC Detects Vehicle Loan Fraud Worth $18m

    By Ajoy K Das | 25/04/2024

    The fraud involved forgery of KYC documents related to retail vehicle loans, resulting in company funds being embezzled.

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