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AML / KYC
International Operation Targeting Money Mules Yields 2,500 Arrests
By Editors | 07/12/2022
The operation involved law enforcement agencies in 25 countries including Singapore and Australia, supported by Europol, Eurojust, INTERPOL and the EBF.
Enforcement
ASIC Sues Amex in First Court Case Involving DDO Breaches
By Editors | 07/12/2022
ASIC alleges that American Express Australia breached its design and distribution obligations in relation to two credit cards it issued and co-branded with retailer David Jones.
Securities / Derivatives
FSC Korea Unveils Plans to Disclose Names of Rule Breakers
By Editors | 06/12/2022
The FSC said disclosing the names of those who breach short selling rules or create market disturbances will create a deterrence effect and reduce illegal activities in capital markets.
Enforcement
UK Regulator Fines Barclays Over Non Transparent Card Fees
By Editors | 04/12/2022
Barclays was fined by the PSR for failing to give retailers full information about the costs of its card services for three years.
Securities / Derivatives
China Targets Investment Banking Controls at Securities Firms
By Editors | 04/12/2022
CSRC penalises multiple securities firms. New evaluation system will lead to more intense supervision of firms with lower-quality investment banking practices.
AML / KYC
UK Sanctions 22 Russian Officials for Conscription Efforts
By Editors | 04/12/2022
The sanctions target officials who have promoted and enforced the conscription of citizens to fight in Russia’s “illegal war in Ukraine”.
AML / KYC
FCA Fines Julius Baer UK Unit for Over ‘Corrupt’ Finders Fees
By Editors | 03/12/2022
Julius Baer improperly paid “corrupt” finder’s fees to a Yukos Group employee in exchange for business from the now-defunct Russian conglomerate.
Enforcement
US Financial Firms to Spend $18bn on Surveillance Tech This Year
By Editors | 03/12/2022
The increased spending comes after multiple financial firms were fined for failing to monitor and keep records on employees’ communications via messaging apps.
AML / KYC
Texas Unseals Charges Against 21 Crypto Money Launderers
By Editors | 02/12/2022
The 21 US citizens charged helped to move proceeds from US fraud victims to foreign criminal organisations using crypto.
Enforcement
Korean Prosecutors Seek More Terra-related Arrest Warrants
By Editors | 01/12/2022
New arrest warrants are sought for co-founder Daniel Shin, as well as Terraform Labs investors and engineers.
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