Enforcement

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    Enforcement

    Deutsche Bank to Settle Jeffrey Epstein Lawsuit for $75m

    By Editors | 19/05/2023

    The lawsuit brought by an unnamed woman in November claimed Deutsche Bank missed red flags in Epstein’s accounts and chose profit over following the law.

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    Enforcement

    SFC Fines Brokerage for Negligence During Share Placement

    By Editors | 19/05/2023

    China On Securities used incorrect prices in contract notes and transferred shares to placees without first requiring payment.

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    Enforcement

    Wells Fargo Agrees to Pay $1bn to Settle Class Action

    By Editors | 18/05/2023

    Shareholders accused Wells Fargo of overstating how well it was complying with 2018 consent orders from financial regulators.

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    Enforcement

    US DOJ to Ramp Up Scrutiny of Crypto Platforms – Report

    By Mark Johnston | 18/05/2023

    The DOJ will pursue target crypto exchanges, mixers and tumblers that are enabling criminal actors to profit from their crimes.

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    Enforcement

    ECB Fines Goldman Sachs for Miscalculating RWA

    By Editors | 17/05/2023

    Goldman’s European unit reported lower RWA for credit risk than it should have done for eight consecutive quarters.

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    Enforcement

    OFAC Sanctions Key Actor in Russian Ransomware Ecosystem

    By Editors | 16/05/2023

    The Russian national helped to develop and deploy ransomware variants Hive, LockBit, and Babuk. A $10mn award is offered for information that leads to his arrest.

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    Enforcement

    Korea to Investigate CFD Trades for Links to Stock Manipulation

    By Mark Johnston | 16/05/2023

    The FSC said it has confirmed that a “significant number” of CFD accounts were involved in last month’s stock crash.

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    AML / KYC

    Indian Authorities Investigating Three ‘Top Brokers’ – Reports

    By Editors | 16/05/2023

    Three top brokers, who were not named, were found to be engaged in “large-scale money laundering activities” with the involvement of PEPs.

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    Crypto / Digital Assets

    Korean Prosecutors Seize Records from Upbit, Bithumb

    By Editors | 16/05/2023

    The move is part of a probe into a Korean lawmaker who was found to own crypto in amounts that are “inconsistent with his frugal image”.

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    Enforcement

    Thai Couple Sentenced to 12,000+ Year Jail Term Over Ponzi Scheme

    By Editors | 15/05/2023

    Husband and wife are expected to be in prison for 20 years each, because of a law that limits total jail time.

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