Enforcement

AML / KYC

CFTC Issues Largest Ever Civil Monetary Penalty

By Editors | 30/04/2023

The CFTC ordered the operator of a fraudulent multilevel marketing scheme to pay a $1.7bn penalty and a further $1.7bn in restitution.

Enforcement

Korean Authorities Probe Manipulation in Eight Stocks

By Editors | 30/04/2023

Prosecutors have issued travel bans on ten individuals who are suspected of engaging in stock price manipulation activities.

Enforcement

SEBI Imposes 7-Year Market Ban Against Karvy Stock Broking

By Editors | 29/04/2023

Karvy Stock Broking Limited was found to have misused clients’ assets in 2019, by pledging them as collateral to borrow funds from banks and NBFCs.

Enforcement

British American Tobacco to Pay $629m in DPRK Sanctions Case

By Mark Johnston | 27/04/2023

OFAC’s $508mn penalty, its largest ever against a non-financial institution, settles charges related to the export of tobacco products to North Korea.

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.