Enforcement

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.

AML / KYC

Crypto Firms Lead Surge in AML Fines: Report

By Mark Johnston | 15/01/2024

Fenergo’s annual report reveals a 57 per cent surge in penalties for non-compliance with financial regulations in 2023.

AML / KYC

SC Malaysia Charges Three for Money Laundering Offences

By Sanday Chongo Kabange | 15/01/2024

The three individuals face a combined 28 money laundering charges over illegal proceeds totalling MYR 283.5 million.

Enforcement

IA, HKMA Take Joint Enforcement Action Against Insurance Agent

By Sanday Chongo Kabange | 12/01/2024

The agent was suspended and fined for keeping gift vouchers that were intended to be given to clients as gifts.

Enforcement

Software Giant SAP to Pay Over $220m to Resolve FCPA Violations

By Editors | 12/01/2024

SAP paid bribes to government officials in South Africa, Indonesia, Malawi, Kenya, Tanzania, Ghana and Azerbaijan.

Crypto / Digital Assets

New Bill to Give MAS Greater Investigative Powers

By Nithya Subramanian | 11/01/2024

The proposed law broadens the regulator’s power over unregulated businesses and expands its oversight on key appointments and removals.

Enforcement

SFC Issues New Alert on Suspicious Real Estate Investment Products

By Sanday Chongo Kabange | 10/01/2024

The SFC has warned the public to be wary of Kaplink 006 Limited and Kaplink 007 Limited, involving real property development projects in Australia.

AML / KYC

SFC Sanctions Responsible Officer Over Licensee AML Compliance Failures

By Sanday Chongo Kabange | 10/01/2024

The SFC suspended Andy Wong Yeung for 10 months over his role in City International Futures’ AML compliance failures.

Enforcement

China to Prosecute Former Everbright Group Chairman

By Editors | 09/01/2024

Tang Shuangning became the second former chairman of China Everbright Group to be dismissed from the CCP in recent months.