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Enforcement
AML / KYC
China Fines Bohai Bank for Third Time This Year
By Editors | 16/03/2023
The PBOC fined China Bohai Bank for committing 12 regulatory violations. The bank was fined twice last month for different violations.
Enforcement
Swedbank Fined for IT Incident Which Impacted 1m Customers
By Editors | 16/03/2023
Swedbank made a change to a business-critical IT system without following its internal procedures and processes.
Enforcement
US Charges Exiled Chinese Businessman with $1b Fraud Scheme
By Editors | 16/03/2023
Guo Wengui and his financial adviser allegedly cheated thousands of investors since 2018 by promising outsized returns on various offerings.
AML / KYC
US, German Authorities Coordinate on Takedown of Crypto Mixer
By Editors | 16/03/2023
Authorities dismantled ChipMixer’s infrastructure and seized four servers, about USD 46 million worth of bitcoin, 7 TB of data, two domains, and a Github account.
Crypto / Digital Assets
Crypto-related Crime in Australia: What Court Records Tell Us, and What Lies Ahead
By Angela Ang | 16/03/2023
Angela Ang considers findings from the first empirical study of crypto-related court cases in Australia, and what this means the crypto crime and enforcement landscape.
Enforcement
US OCC Fines Ex-Wells Fargo Exec for Sales Misconduct
By Editors | 15/03/2023
Carrie Tolstedt was not required to admit or deny the OCC allegations, but she faces up to 16 months in prison under a plea agreement with federal prosecutors.
Crypto / Digital Assets
US Prosecutors Probe Possible Terra Manipulation by Trading Firms
By Editors | 15/03/2023
SDNY prosecutors are said to be looking into Telegram chats among employees at Jump Trading and Jane Street from last May.
Enforcement
Compensation for Poor Advice Reaches A$4.7b: ASIC
By Editors | 14/03/2023
As of end December, the major banks paid or offered to pay almost AUD 4.7 billion (USD 4.2 billion) in compensation to over 1.6 million customers.
Enforcement
SFC Fines Brokerage for 2015 System Testing Incident
By Editors | 14/03/2023
I-Access Investors incorrectly used data from system testing as production data and inadvertently triggered 27 stop loss sell orders by 12 clients.
Enforcement
LBMA to Probe Perth Mint ‘Gold Doping’ Allegations
By Editors | 14/03/2023
Adverse findings under LBMA’s incident review process can result in refiners being struck off the Good Delivery List.
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