Enforcement

AML / KYC

UK Police Arrest Chinese Tycoon on US Bribery Charges

By Editors | 14/12/2022

The co-chairman of Chinese real estate firm Guangzhou R&F Properties is accused of paying bribes to San Francisco authorities from 2015 through 2020.

Enforcement

US Court Convicts Another JPM Trader on Spoofing Charges

By Editors | 13/12/2022

Former precious metals trader faces up to 30 years in prison for placing deceptive orders intended in COMEX gold and silver futures.

AML / KYC

UK FCA Fines Santander for “Persistent Gaps” in AML Controls

By Editors | 13/12/2022

The FCA said Santander did not manage business banking accounts correctly and did not promptly deal with automated monitoring alerts.

Enforcement

UK Court Convicts Three for Defrauding Libyan Sovereign Fund

By Mark Johnston | 13/12/2022

The fund managers structured investments in a way that generated finder fees that they funnelled through offshore shell companies, causing around $46mn to Libya.

AML / KYC

ASIC Commences Proceedings Against Star Entertainment Execs

By Editors | 13/12/2022

ASIC says Star board members and key executives breached their duties by failing to address known money laundering risks.

AML / KYC

Chinese Police Arrest 63 Members of Crypto Money Laundering Gang

By Editors | 13/12/2022

The gang is estimated to have laundered up to CNY 12 billion for both domestic and foreign criminal groups using cryptocurrency.

Enforcement

EU Commission Accuses Two Banks of Cartel Conduct

By Editors | 12/12/2022

Deutsche Bank and Rabobank traders allegedly exchanged commercially sensitive information and coordinated pricing and trading strategies on government bonds.

Enforcement

Singapore: Ex-Agritrade CFO Pleads Guilty to Deceiving Banks

By Editors | 12/12/2022

The former CFO used false financial statements to obtain loans for Agritrade International and its suppliers, causing over $469mn in losses for up to 12 banks.

Enforcement

FCA Fines Interdealer Brokers Over Inadequate Trade Surveillance

By Editors | 12/12/2022

Between July 2016 and January 2018, BGC Brokers, GFI Brokers and GFI Securities had deficient surveillance processes and insufficient asset class coverage.