Enforcement

Enforcement

Australia to Increase Tax Practitioners Board’s Enforcement Powers

By Sanday Chongo Kabange | 12/12/2023

New consultations propose to strengthen the Tax Practitioners Board’s sanctions regime and expand its Code of Professional Conduct.

Enforcement

UK to Launch New Unit to Investigate Trade Sanctions Violations

By Editors | 12/12/2023

The Office of Trade Sanctions Implementation is expected to begin its civil enforcement activities sometime in early 2024, the UK government says.

AML / KYC

Singapore: Resorts World Sentosa Fined for AML Failures

By Editors | 11/12/2023

Resorts World Sentosa did not perform customer due diligence checks and identity verification when receiving cash from third party depositors.

Enforcement

Binance’s CZ Zhao Now Required to Remain in US Until Sentencing

By Editors | 11/12/2023

Initially, a magistrate judge appeared to be allowing Zhao to leave the US until his sentencing hearing in February. A district court judge has reversed this ruling.

Enforcement

OFAC Announces Settlement with Nasdaq for Sanctions Violations

By Editors | 10/12/2023

Nasdaq’s Armenian subsidiary committed 151 apparent violations of sanctions on Iran before the violations were self-reported in 2014.

Enforcement

APRA Identifies Defective Cyber Controls at NGS Super

By Sanday Chongo Kabange | 08/12/2023

APRA said multiple reviews identified deficiencies in NGS’ compliance with its standards on information security.

Enforcement

Bangladesh Bank Releases New PCA Framework for Commercial Banks

By Ajoy K Das | 08/12/2023

To protect the interest of depositors and ensure proper management, banks will be placed under four categories based on NPLs and CRAR.

Crypto / Digital Assets

US Authorities Secure Guilty Plea from Crypto Founder

By Editors | 07/12/2023

Anatoly Legkodymov pleaded guilty to operating Hong Kong-registered Bitzlato as a money transmitting business that allowed criminals to launder illicit proceeds.

Enforcement

ASIC Fines Instinet Over ‘Set and Forget’ Compliance Culture

By Sanday Chongo Kabange | 07/12/2023

ASIC said Nomura subsidiary Instinet failed to provide clients with all necessary information about the operation of its crossing system.