Enforcement

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.

Crypto / Digital Assets

US Regulators Probe Failed Crypto Firm Three Arrows Capital

By Editors | 19/10/2022

The SEC and CFTC are reportedly looking into whether Three Arrows misled investors and violated rules by not registering its business.

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.