ENFORCEMENT

AML / KYC

HK Regulator Urges Insurers to Cooperate with ICAC Investigations

By Editors | 18/10/2022

The Insurance Authority asks insurance CEOs to promptly respond to requests to produce evidence for corruption investigations.

AML / KYC

NSW Regulator Imposes Max Penalty on Casino Giant The Star

By Editors | 18/10/2022

Casino giant The Star has been fined A$100mn and had its licence in NSW suspended due to its failure to prevent money laundering at its Sydney casino.

Enforcement

US FTC Expands Competition Probe Into Visa, Mastercard

By Editors | 18/10/2022

The FTC is investigating whether the security technology used by Visa and Mastercard raises the likelihood that payments over different networks will be rejected.

Enforcement

Hong Kong Court Convicts Former Fulbright Securities AE

By Editors | 17/10/2022

The former account executive, banned for life in 2017, pleaded guilty to employing a fraudulent scheme involving securities transactions in eight stocks.

AML / KYC

FCA Fines UK Challenger Bank for Weak AML Controls

By Editors | 17/10/2022

Gatehouse Bank failed to perform appropriate checks on customers based in high-risk countries and customers that were classified as PEPs.

Crypto / Digital Assets

China Blocks 13 Crypto Apps Found to be Locally Accessible

By Editors | 16/10/2022

13 mobile apps for crypto trading that were still accessible in China have been removed from app stores at the direction of a Beijing court.

Crypto / Digital Assets

Thai SEC Orders Bitkub to Fix Standards of Native Token

By Editors | 15/10/2022

The SEC says KUB Coin’s so-called “adminTransfer” function could be used by attackers to transfer digital assets from any wallet.

AML / KYC

US Treasury Facing 2nd Lawsuit Over Tornado Cash Sanctions

By Editors | 14/10/2022

Think tank Coin Center argues that the Tornado Cash sanctions harm US citizens and their ability to transact privately using the Ethereum network.

Enforcement

US SEC Probing Funds, Advisers on Staff Messaging Practices

By Editors | 13/10/2022

The SEC’s probe into the use of personal devices and messaging apps has reportedly expanded beyond broker-dealers to include investment funds and advisers.