Enforcement

Enforcement

RBI Imposes Business Restrictions on IIFL Finance Limited

By Ajoy K Das | 07/03/2024

IIFL Finance provided customers gold loans in excess of the statutory LTV limit, among several other supervisory concerns.

AML / KYC

AUSTRAC Launches AML Probe Into Gambling Company Bet365

By Sanday Chongo Kabange | 07/03/2024

The probe follows a Nov 2022 order from AUSTRAC requiring Bet365 to appoint an external auditor to assess AML/CTF compliance.

Crypto / Digital Assets

Montenegro Court Halts Extradition of Terra’s Do Kwon to US

By Sanday Chongo Kabange | 06/03/2024

Do Kwon’s case will be retried because of procedural issues over who between the US and South Korea was first to request his extradition.

Enforcement

SFC, HKEX Jointly Take Action Against GEM-Listed Firm

By Sanday Chongo Kabange | 06/03/2024

Two former directors misappropriated assets by paying an IPO consultant who subsequently rerouted the funds back to the directors.

Enforcement

RBI Imposes Restrictions on Systemically Important NBFC

By Ajoy K Das | 06/03/2024

The RBI said JM Financial Products “repeatedly” helped customers bid for IPO and NCD offerings using loaned funds, in violation of the regulations.

Enforcement

Coal Miner Challenges Australia Sanctions Regime in Court

By Editors | 05/03/2024

Tigers Realm Coal produces coal in Russia but does not directly export it. DFAT alleges breach of sanctions, which Tigers Realm has challenged.

Crypto / Digital Assets

SFC Issues More Warnings About Suspected Crypto Frauds

By Sanday Chongo Kabange | 05/03/2024

BitForex, which disappeared with users’ funds last month, was added to the alert list, along with suspicious websites impersonating HashKey and OSL.

Enforcement

US Secures $661m Settlement from Swiss Oil Trader for FCPA Violations

By Manesh Samtani | 04/03/2024

Over a nearly a decade, Gunvor Group paid more than $97mn to secure business from Ecuador, generating $384mn in illicit profits.

AML / KYC

China: Amended Law Strengthening Bribery Penalties Takes Effect

By Editors | 04/03/2024

The amended law defines seven “severe” offences related to bribery, specifies higher penalties for such offences, and now also covers private enterprises.