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ENFORCEMENT
AML / KYC
UK Convicts Cash Couriers for Laundering Over $130m
By Editors | 27/04/2023
The couriers smuggled money from the UK to Dubai using vacuum-packed suitcases sprayed with coffee or air fresheners to evade detection.
Enforcement
Terra Co-Founder Daniel Shin Indicted in Korea
By Editors | 27/04/2023
Daniel Shin and nine others were indicted for their roles in the collapse of the Terra stablecoin which caused significant losses for investors.
Enforcement
Singapore Trader Sentenced to Jail, Fine for SFA Breach
By Editors | 27/04/2023
The trader would sell the securities to his relatives before buying them back at higher prices using his employer’s accounts.
Enforcement
SFC Bans Another Ex-Convoy Licensee Over Manipulation Scheme
By Editors | 26/04/2023
Peter Law convinced clients to buy and hold a stock that was being manipulated by collaborators in exchange for a commission.
Enforcement
CFTC Fines Mizuho Capital Markets for Swaps Conduct Failures
By Editors | 26/04/2023
Mizuho Capital Markets engaged in anticipatory hedges of deal-contingent FX forwards without appropriate disclosure to customers.
AML / KYC
Swiss Prosecutors Indict Ex-PetroSaudi Executives in 1MDB Case
By Editors | 26/04/2023
The two former executives were paid by Jho Low to set up a joint venture that was used to embezzle $1.8bn from 1MDB.
AML / KYC
US Official Details Sanctions Evasion Red Flags During European Visit
By Editors | 25/04/2023
Treasury official Brian Nelson met with European officials and FIs last week and shared details about emerging sanctions evasion typologies.
Enforcement
US Fines Seagate Over Hard Drive Shipments to Huawei
By Sanday Chongo Kabange | 24/04/2023
Seagate was fined $300mn, the largest standalone administrative penalty in BIS history, for shipping hard drives to Huawei in violation of US export controls.
AML / KYC
Malaysia in Talks with China to Secure Jho Low Repatriation
By Editors | 24/04/2023
An arrangement is being “hotly debated” inside the Malaysian government after PM Anwar Ibrahim’s first official trip to China last month.
Enforcement
19 Year Old Pleads Guilty for Involvement in OCBC Phishing Scams
By Editors | 24/04/2023
The youth is the sixth individual to be convicted among those accused of being involved in phishing scams.
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