Enforcement

Enforcement

Former VP of US Bank Pleads Guilty to AML Violations

By Mark Johnston | 18/01/2024

Peter McVey helped high-risk customers evade the bank’s AML controls, violating the Bank Secrecy Act.

AML / KYC

Cryptos Popular Among Money Launderers in SE Asia: UN Report

By Nithya Subramanian | 18/01/2024

Tether has emerged as a preferred choice for regional cyberfraud operations due to its stability and the ease, anonymity, and low fees of its transactions.

Enforcement

US SEC Fines JP Morgan for Impeding Potential Whistleblowers

By Nithya Subramanian | 17/01/2024

The firm’s securities unit has been fined USD 18 million for disallowing clients from contacting the SEC.

Enforcement

US House Passes Three Finance Bills to Support Taiwan

By Mark Johnston | 16/01/2024

The bills aim to boost Taiwan’s role in the IMF, exclude China from key banking organisations, and push for more […]

Enforcement

CSRC Fines Three Executives for Stock Price Manipulation

By Sanday Chongo Kabange | 16/01/2024

Following its investigation, the CSRC has imposed a total fine of CNY 661 million.

Enforcement

Former Wyelands Bank CEO Fined, Banned by UK PRA

By Mark Johnston | 16/01/2024

Former Wyelands Bank CEO faces penalty and prohibition for failing to ensure the lender had adequate systems and controls.

Enforcement

Korea Confirms Illegal Short Selling by Two More Global Banks

By Editors | 15/01/2024

The FSS said it has confirmed that two investment banks submitted naked short selling orders worth a combined KRW 54 billion.

Enforcement

US SEC, DOJ Settle Morgan Stanley Block Trading Probe

By Sanday Chongo Kabange | 15/01/2024

Morgan Stanley agreed to pay more than USD 249 million to settle fraud charges and for failing to enforce information barriers.

AML / KYC

NYDFS Announces $8m Settlement With Genesis Global Trading

By Editors | 15/01/2024

Genesis Global Trading is also required to give up its BitLicense and cease all operations in New York as part of the settlement.