ENFORCEMENT

Enforcement

FCA Seeks £50m Penalty from Barclays for 2008 Deals

By Editors | 24/10/2022

Barclays did not disclose payments made to Qatari entities for their participation in two capital raisings during the GFC in 2008.

AML / KYC

Singapore Jails Former Bank Officer Over Shell Company Setups

By Editors | 24/10/2022

The former bank officer recruited nominee directors to set up shell companies and open bank accounts for use by unidentified individual based overseas.

Enforcement

Philippine SEC Sets Out Penalties for Disclosure Violations

By Mark Johnston | 24/10/2022

Directors, trustees, and officers can be fined personally and barred for five years for failure to ensure compliance with beneficial ownership disclosure requirements.

Enforcement

NZ FMA Issues Warnings Against Property Investment Firms

By Editors | 23/10/2022

The firms misused the wholesale investor exclusion to extend offers to people with little or no investment experience.

AML / KYC

NZ FMA Issues Formal Warning to InvestNow Over AML Failures

By Editors | 22/10/2022

InvestNow had deficiencies in its processes for verifying customer identities and conducting CDD, EDD and SoW/SoF checks.

AML / KYC

US Sanctions, Files Criminal Charges Against Russians

By Editors | 21/10/2022

The sanctions target a procurement network supplying technology to Russia. The indictment explains that crypto was used to facilitate the payments.

Enforcement

German Prosecutors Raid Deutsche Offices for “Cum-Ex” Probe

By Editors | 21/10/2022

The Cum-Ex scandal dates back more than a decade. Deutsche Bank is said to be fully cooperating with inspections at its Frankfurt offices.

AML / KYC

INTERPOL Launches First Global Police Metaverse

By Editors | 20/10/2022

INTERPOL Metaverse users can interact with other officers and take training courses. A new expert group will work to secure the metaverse from crime.

AML / KYC

EU to Sanction Iran Over Drone Sales to Russia

By Editors | 20/10/2022

The EU has just imposed sanctions over the way protests in Iran are being handled. The drone transfers to Russia are considered a violation of a UNSC resolution.