ENFORCEMENT

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    Enforcement

    US Jury Convicts Two Individuals for Attempting to Export Iranian Oil to China

    By Editors | 23/11/2023

    The individuals were accused of conspiring to violate US sanctions through a scheme to sell Iranian-origin petroleum to a Chinese buyer via shell companies.

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    AML / KYC

    AUSTRAC Accepts Enforceable Undertaking from Perth Mint

    By Sanday Chongo Kabange | 23/11/2023

    The enforceable undertaking binds Gold Corporation to completing its AML/CTF remediation programme by 30 April 2025.

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    AML / KYC

    SFC Fines Lion Futures for AML Non-Compliance

    By Sanday Chongo Kabange | 23/11/2023

    Lion Futures is the 7th firm to be fined over the use of software that allows Mainland investors to trade without opening a local securities account in Hong Kong.

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    Enforcement

    ECB Threatens Fines for Banks Lagging on Climate Risk

    By Mark Johnston | 23/11/2023

    The central bank has given about 20 banks individual deadlines to fix their shortcomings in managing climate and environmental risks.

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    Enforcement

    Crypto Firm Bittrex Global Announces Decision to Cease Operations

    By Sanday Chongo Kabange | 22/11/2023

    While Bittrex Global did not specify a reason for the decision, regulatory uncertainty is seen as the biggest factor.

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    AML / KYC

    US Authorities Secure Multi-Billion Dollar Settlement from Binance

    By Editors | 21/11/2023

    Binance CEO Changpeng Zhao stepped down as part of the settlement with DOJ, FinCEN, OFAC and CFTC. SEC case not mentioned.

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    Enforcement

    UK Reinsurance Brokers Settle FCPA Charges for Ecuador Bribes

    By Mark Johnston | 21/11/2023

    Tysers Insurance Brokers agreed to pay almost $47mn for bribing officials at Ecuadorian state-owned insurance companies.

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    Enforcement

    RBI Undertakes Review of Penalty Framework – Report

    By Ajoy K Das | 21/11/2023

    The RBI is considering options for linking penalties to the size of regulated entities, as well as clawing back executive remuneration.

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    Crypto / Digital Assets

    SEC Charges Crypto Firm Kraken for Operating Without Registration

    By Editors | 21/11/2023

    The SEC said Kraken’s failure to register deprived investors of “significant protections” and “safeguards against conflicts of interest”.

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    Enforcement

    Ransomware Group Files SEC Complaint Against its Own Victim

    By Mark Johnston | 20/11/2023

    ALPHV/BlackCat attacked software company MeridianLink, then filed a complaint with the US SEC saying the company failed to disclose the attack.

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