Enforcement

AML / KYC

Co-Founder of OneCoin Pleads Guilty to Fraud

By Editors | 22/12/2022

Karl Sebastian Greenwood faces a maximum of 60 years in person. Co-conspirator Ruja Ignatova is on the FBI’s most wanted list.

Enforcement

US, Brazil Settle Honeywell Bribery Charges for Over $200m

By Editors | 22/12/2022

Manufacturing conglomerate Honeywell will pay $120mn to Brazilian authorities, $39.4mn to the DOJ, and $42.3mn to the SEC.

Enforcement

UK Regulators Fine TSB Bank Over IT Upgrade Failures

By Editors | 22/12/2022

An IT system upgrade in April 2018 resulted in nearly 2 million TSB Bank customers being unable to access banking services.

AML / KYC

NZ FMA Takes Tiger Brokers to Court for AML Failings

By Editors | 22/12/2022

Tiger Brokers failed to appropriately vet customers, respond to activities that should have raised concerns, and maintain appropriate records.

Enforcement

SFC Fines Guosen for Regulatory Breaches Caused by Bugs

By Editors | 21/12/2022

Guosen Securities used expired standing authority of clients because its new operating system failed to send renewal notices to clients.

Enforcement

US Regulator Orders Wells Fargo to Pay $3.7b for Violations

By Editors | 21/12/2022

Wells Fargo repeatedly misapplied loan payments, wrongfully foreclosed on homes and illegally repossessed vehicles, among other violations.

Enforcement

Singapore Jails Man for Spoofing, False Telegram Statements

By Editors | 20/12/2022

Kenneth Goh pleaded guilty to creating a false appearance in the market 325 times, deceiving two brokers, and making false statements in Telegram chat groups.

Enforcement

ASIC Files Suit Against Finder Wallet Over Crypto-related Product

By Sanday Chongo Kabange | 20/12/2022

Finder Wallet offered a crypto-related product that paid customers a return for use of their funds, like a debenture, ASIC says.

Enforcement

Former German Tax Inspector Jailed Over Cum-Ex Tax Fraud

By Mark Johnston | 20/12/2022

Hanno Berger, considered a Cum-Ex mastermind, was sentenced to eight years in jail and ordered to repay EUR 13.7 million.