Enforcement

Enforcement

US Unveils Five Enforcement Actions Involving Russian Oligarchs

By Editors | 23/02/2024

The actions, including charges against the CEO of Russia’s VTB Bank, were unveiled just ahead of the two-year anniversary of the war in Ukraine.

Enforcement

FSC Korea Warns the Consumer Finance Association for Violations

By Mark Johnston | 23/02/2024

The FSC has issued a warning to the CFA and its chairman for violating the law and obstructing the FSS inspection.

Crypto / Digital Assets

Cybercrime Group LockBit Has Been Dismantled

By Manesh Samtani | 21/02/2024

Law enforcement from ten countries have disrupted the criminal operation of the LockBit ransomware group.

Enforcement

FSS Korea Clarifies Role in Seeking Redress for Investors

By Editors | 21/02/2024

FSS responds to calls for a court, rather than the regulator, should prepare compensation plans for investors in loss-making ELS products.

Enforcement

FSS Korea Sanctions Lotte Insurance for Poor Risk Management

By Mark Johnston | 20/02/2024

Lotte Insurance is asked to prepare a comprehensive liquidity management plan and strengthen its stress tests for alternative investments.

Enforcement

JPMorgan to Pay $350m in Fines for Trade Surveillance Gaps

By Mark Johnston | 20/02/2024

The bank said certain trading and order data was not feeding into its trade surveillance platforms.

Enforcement

CBA Fined A$10.3m for Underpaying Employees

By Editors | 20/02/2024

Across Australia, some 7,400 CBA and CommSec employees were underpaid A$16mn from 2015 to 2021.

AML / KYC

Seven Arrested in Hong Kong’s Largest Ever Money Laundering Case

By Sanday Chongo Kabange | 19/02/2024

The case involves a total of about HK$14 billion of suspected crime proceeds. HK$185 million in assets has so far been frozen or seized.

AML / KYC

SkyCity Facing NZ Court Proceedings for Alleged AML Failures

By Sanday Chongo Kabange | 19/02/2024

The DIA alleges that SkyCity did not meet various obligations required under the AML/CFT Act.