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Enforcement
Crypto / Digital Assets
New York Regulator Investigating Crypto Firm Gemini
By Editors | 01/02/2023
Gemini emphasised connections to the FDIC when customers asked if their assets were safe. Almost $1bn in customer assets have since been frozen on the platform.
AML / KYC
Westpac Fined in Hong Kong Over Delayed Customer Reviews
By Editors | 31/01/2023
Out of 143 customers who were subject to periodic reviews between June 2016 and May 2017, there were delays in 121 customers – of which 58 were of high risk.
Crypto / Digital Assets
Bankman-Fried Lawyers Request Access to Crypto Held by FTX
By Editors | 31/01/2023
The DOJ asked for a communications ban against Bankman-Fried as an additional bail condition. Last week, a 116-page list of the FTX’s creditors was filed to the bankruptcy court.
AML / KYC
UK Economic Crime Bill to Include New ‘Failure to Prevent’ Offences
By Manesh Samtani | 31/01/2023
Failure to prevent fraud, false accounting, and money laundering will become new corporate criminal offences in the UK.
Enforcement
Korea Probes Price Manipulation via Crypto Exchange Bithumb
By Editors | 31/01/2023
Bithumb offices were raided last week. The crypto exchange is not accused of misconduct, though it is under a separate probe for possible tax evasion.
Enforcement
UPDATED – Citadel Securities Fined in Korea for ‘Disrupting Market Order’
By Editors | 31/01/2023
The case was the first in which the FSC imposed a penalty for market order disruptions as a result of high-frequency algorithmic trading.
Enforcement
SFC Fines Private Fund Adviser for Failing to Protect Investors’ Interest
By Editors | 31/01/2023
Cardinalasia Consulting and its responsible officer failed to ensure that the manager of the five private funds received appropriate advice.
Enforcement
Singapore Court Fines Whistleblower for Making False Claims
By Editors | 31/01/2023
The High Court found that the whistleblower did not act in good faith in a 2011 tip-off and ordered him to pay compensation to a director he accused of corrupt acts.
Enforcement
FCA Charges Former Janus Henderson Analyst for Insider Trading
By Editors | 30/01/2023
Redinel Korfuzi used confidential inside information obtained in his role as a Janus Henderson analyst to enable “timely and profitable trading” in 49 companies.
AML / KYC
US, EU Authorities Take Down HIVE Ransomware Gang
By Editors | 30/01/2023
“Simply put, using lawful means, we hacked the hackers,” said deputy attorney general Lisa Monaco.
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