Enforcement

Crypto / Digital Assets

US Federal Judge Declines to Freeze Binance.US Assets

By Editors | 14/06/2023

The federal judge overseeing the case ordered the SEC and Binance.US to negotiate other restrictions instead.

Enforcement

Taiwan FSC Raise Cap on Whistleblower Rewards by 25pc

By Editors | 13/06/2023

Whistleblowers can be paid up to TWD 5 million (USD 161,000) for reporting illegality, financial misconduct and fraud.

AML / KYC

JPMorgan Agrees to Settle Epstein Lawsuit for $290m

By Editors | 13/06/2023

JPMorgan will not have to admit liability, but will have to issue a public statement saying it regrets its association with Epstein.

AML / KYC

India Accuses Xiaomi and Global Banks of Breaking FX Rules

By Karen Ng | 13/06/2023

Xiaomi India, Deutsche Bank, HSBC and Citibank are accused of illegally remitting $673mn to foreign entities.

Enforcement

Taiwan FSC Fines Taishin Bank for Employee Misconduct

By Karen Ng | 13/06/2023

The misappropriation of client funds by a Taishin employee started from January 2011 and lasted for more than 11 years.

Enforcement

Former Top PBOC Official Expelled from CCP for Corruption

By Editors | 13/06/2023

Former deputy governor Fan Yifei was found to have accepted banquets, trips, golf outings, gifts, gold, money, and other perks.

Enforcement

Japan SESC Seeks Penalties Against Banks That Sold Risky Bonds

By Sanday Chongo Kabange | 12/06/2023

The SESC is asking the FSA to penalised Chiba Bank and its subsidiaries for selling high-risk structured bonds to novice investors.

AML / KYC

Russian Nationals Charged With Hacking Mt Gox and Operating BTC-e

By Editors | 12/06/2023

The DOJ unsealed charges against two Russian nationals for the 2011 hack of the Mt Gox crypto exchange and for laundering the proceeds.

AML / KYC

Sanctions Enforcement Not a ‘Credible Threat’: RUSI Roundtable

By Manesh Samtani | 12/06/2023

Roundtable participants said lessons should be learnt from the significant penalties that drove banks to observe the Iran sanctions regimes.