ENFORCEMENT

AML / KYC

BSEC Chairman Under Scrutiny for Links to International Fraud

By Manesh Samtani | 17/07/2023

BSEC chairman Shibli Rubayat ul Islam allegedly received $800,000 in payments from accounts linked to a $13mn fraud against Hong Kong-based Ming Global.

Crypto / Digital Assets

US Probe Prompts Staff and Executive Departures at Binance – Reports

By Editors | 17/07/2023

Over 1,000 employees have reportedly been laid off in recent weeks. A number of key senior executives have also departed.

Enforcement

China Extends Bond Business Regulation to ‘Practice Quality’

By Jill Wong | 17/07/2023

CSRC extended its measures for the evaluation of securities companies’ corporate bond business to cover practice quality and a strengthening of the evaluation index system.

AML / KYC

US Virgin Islands Demands $190m from JPMorgan in Epstein Case

By Editors | 17/07/2023

The territory said in a court filing that JPMorgan did not place compliance with the law and prevention of trafficking ahead of its own profits.

Crypto / Digital Assets

US Agencies Settle Charges Against Crypto Lender Celsius Network

By Manesh Samtani | 16/07/2023

Celsius Network and founder Alexander Mashinsky charged for failing to register crypto lending product, defrauding customers, manipulating price of CEL token.

Enforcement

Cigno, BHF Solutions Breached National Credit Act, Court Rules

By Sanday Chongo Kabange | 15/07/2023

Australia’s Federal Court said the lending model the firms operated was specifically intended to avoid provisions of the National Credit Act.

Crypto / Digital Assets

US Judge Skeptical of SEC Stance Against Coinbase

By Editors | 15/07/2023

In a pre-motion hearing, the judge suggested it was reasonable for Coinbase to think they were not breaking the law based on the SEC’s issuance of the S-1 form.

Enforcement

Korea Prosecutors Arrest Three on Stock Manipulation Charges

By Sanday Chongo Kabange | 14/07/2023

The trio allegedly generated $27.9mn in illicit profits by manipulating the stock prices of five companies, prosecutors said.

AML / KYC

Euroclear Faces $2b Lawsuit from Russian Fund Manager

By Editors | 14/07/2023

Russian asset manager First AM says its lawsuit is intended to protect the rights and interests of clients whose assets were frozen.