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ENFORCEMENT
AML / KYC
FCA Investigating Barclays for KYC and AML Incidents
By Editors | 14/02/2023
The FCA reportedly directed Barclays to undergo an independent review due to concerns about a large volume of KYC and AML incidents.
Enforcement
Singapore Charges Former UOB Banker for Selling Fake Products
By Editors | 13/02/2023
The former personal banker induced a victim into transferring funds for investment in fixed deposits and financial products that were never made.
Crypto / Digital Assets
Hermès Wins Trademark Infringement Case Involving NFTs
By Mark Johnston | 13/02/2023
A jury ruled that an artist violated Hermès’ copyright and brand image by selling NFTs depicting the company’s Birkin handbags covered in fur.
Crypto / Digital Assets
UPDATED: NYDFS, SEC Scrutinise Paxos Over BUSD Stablecoin
By Editors | 13/02/2023
Paxos is the issuer of a Binance-branded stablecoin that ranks as the third-largest, as well as its own stablecoin called Pax Dollar, the sixth largest.
Enforcement
US, UK Jointly Sanction Russian Ransomware Actors
By Editors | 12/02/2023
The first-of-its-kind joint action marks the first time suspected ransomware operators have been designated under the UK sanctions regime.
Crypto / Digital Assets
Russian National Pleads Guilty to Money Laundering Conspiracy
By Editors | 11/02/2023
The Russian national and unnamed co-conspirators allegedly laundered at least USD 70 million in ransom proceeds using cryptocurrency.
Crypto / Digital Assets
US SEC Fines Kraken, Forced Shutter of Crypto Staking Programme
By Editors | 10/02/2023
Commissioner Hester Peirce disagreed with the action, saying there isn’t sufficient guidance on the SEC’s regulatory approach to staking programmes.
Enforcement
ASIC to Restructure to Enable Faster Enforcement Decisions
By Editors | 09/02/2023
ASIC will streamline its business groups and reduce the number of divisions to make its enforcement approach more strategic and free up funding for technology investments.
Crypto / Digital Assets
US SEC Close to Settling Probe Against Crypto Firm Kraken
By Editors | 09/02/2023
Commissioner Hester Peirce says the SEC “has not done a good job” in providing regulatory clarity on crypto.
AML / KYC
Swiss Prosecutors Investigate Credit Suisse’s 2022 Data Leak
By Sanday Chongo Kabange | 08/02/2023
The investigation centres on suspected acts of corporate espionage, breach of trade secrets and violations of banking secrecy laws.
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