ENFORCEMENT

AML / KYC

US SEC Fines Crypto Firm Nexo for Unregistered Securities Offering

By Manesh Samtani | 20/01/2023

Nexo settled charges from US regulators for $45mn. The company was separately raided by Bulgarian authorities last week.

AML / KYC

German Prosecutors Search Norton Rose Offices in Cum-Ex Probe

By Editors | 20/01/2023

A former staff member of Norton Rose Fulbright is said to be a suspect in the tax fraud probe, which dates back more than a decade.

Enforcement

US DOJ Revises Enforcement Policy to Incentivise Cooperation

By Editors | 20/01/2023

Companies that voluntarily disclose suspected criminal activity or misconduct to federal prosecutors can receive up to a 75 percent reduction in penalties.

Enforcement

SEBI Probes Nippon Mutual Fund, Yes Bank Transactions – Report

By Editors | 20/01/2023

SEBI is investigating whether investments in Yes Bank perpetual bonds were made as part of a special deal to benefit Ambani Group companies.

Enforcement

Australia: Three Law Firms Join Forces for Medibank Class Action

By Editors | 19/01/2023

The class action seeks compensation for Medibank customers who had their personal and health data stolen by Russia-linked hackers in last year.

AML / KYC

Authorities Dismantle Russia-Linked Crypto Firm Bitzlato

By Manesh Samtani | 18/01/2023

Bitzlato facilitated $700mn in crypto transfers for Hydra users and received more than $15mn in ransomware proceeds.

AML / KYC

HK Customs “Smashes” Syndicate That Laundered HK$6b

By Editors | 18/01/2023

A money laundering operation centre was being run from an apartment at a large private housing estate. The syndicate was “successfully smashed”.

Enforcement

Korea: Tougher Penalties for Unfair Trading Expected Within H1

By Editors | 18/01/2023

Those engaged in unfair trading activities would face either a prison sentence of at least one year or a fine of between three and five times profits.

Enforcement

New Zealand: Cigna to Pay Biggest-ever Penalty in FMA Case

By Editors | 18/01/2023

Cigna increased premiums and cover for customers without being clear and transparent about the basis for the increase.