Enforcement

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    Crypto / Digital Assets

    Hong Kong PCPD Warns Against Worldcoin’s Free Crypto Offer

    By Sanday Chongo Kabange | 05/02/2024

    The PCPD raided six premises of the Worldcoin project in Hong Kong, saying the city’s privacy law may have been breached.

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    Enforcement

    Online Criminal Harms Act Takes Effect in Singapore

    By Nithya Subramanian | 05/02/2024

    The law has been enabled to take quick actions, giving the government power to issue orders restricting the exposure of users to criminal activities on online platforms.

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    Crypto / Digital Assets

    Crypto lender Genesis Agrees to $21m Settlement with US SEC

    By Editors | 04/02/2024

    Genesis will only have to pay the fine if it can fully repay customers and other claims in its bankruptcy, including general unsecured claims.

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    AML / KYC

    Former Malaysian PM Receives Partial Royal Pardon

    By Editors | 04/02/2024

    Najib Razak was sentenced to jail and fined in 2020 over 1MDB-related corruption. His jail sentence was cut in half and his fine was reduced.

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    AML / KYC

    US DOJ Unseals More Charges in BTC-e Case

    By Editors | 03/02/2024

    Aliaksandr Klimenka faces 25 years in prison for operating unlicensed money services business and laundering criminal proceeds.

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    Enforcement

    US OCC Fines RBC’s US Unit Over Risk Management Deficiencies

    By Editors | 03/02/2024

    A cease-and-desist order requires the bank to take “broad and comprehensive corrective actions” to improve its strategic planning and internal controls.

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    Enforcement

    Taiwan: FSC Fines Taichung Bank Following Arrest of Chairman

    By Editors | 03/02/2024

    The bank’s chairman was detained for allegedly embezzling TWD 1 billion and later released on bail, with restrictions.

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    AML / KYC

    Binance Faces Lawsuit from Hamas Victims for Facilitating Terrorism

    By Editors | 02/02/2024

    The lawsuit, which alleges that Binance enabled Hamas to finance the 7 October attacks, also names Iran and Syria as defendants.

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    AML / KYC

    SkyCity Agrees to Pay More Than A$70m for AML Breaches

    By Editors | 02/02/2024

    AUSTRAC launched civil penalty proceedings against SkyCity Adelaide in December 2022. The casino operator just raised its provision for the potential penalty.

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    AML / KYC

    UK Trial Commences in £5bn Bitcoin Money Laundering Case

    By Editors | 01/02/2024

    Woman is charged for laundering GBP 5 billion stolen from more than 128,000 investors in China on behalf of her former employer.

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