Enforcement

Enforcement

UK Regulator Fines Barclays Over Non Transparent Card Fees

By Editors | 04/12/2022

Barclays was fined by the PSR for failing to give retailers full information about the costs of its card services for three years.

Securities / Derivatives

China Targets Investment Banking Controls at Securities Firms

By Editors | 04/12/2022

CSRC penalises multiple securities firms. New evaluation system will lead to more intense supervision of firms with lower-quality investment banking practices.

AML / KYC

UK Sanctions 22 Russian Officials for Conscription Efforts

By Editors | 04/12/2022

The sanctions target officials who have promoted and enforced the conscription of citizens to fight in Russia’s “illegal war in Ukraine”.

AML / KYC

FCA Fines Julius Baer UK Unit for Over ‘Corrupt’ Finders Fees

By Editors | 03/12/2022

Julius Baer improperly paid “corrupt” finder’s fees to a Yukos Group employee in exchange for business from the now-defunct Russian conglomerate.

Enforcement

US Financial Firms to Spend $18bn on Surveillance Tech This Year

By Editors | 03/12/2022

The increased spending comes after multiple financial firms were fined for failing to monitor and keep records on employees’ communications via messaging apps.

AML / KYC

Texas Unseals Charges Against 21 Crypto Money Launderers

By Editors | 02/12/2022

The 21 US citizens charged helped to move proceeds from US fraud victims to foreign criminal organisations using crypto.

Enforcement

Korean Prosecutors Seek More Terra-related Arrest Warrants

By Editors | 01/12/2022

New arrest warrants are sought for co-founder Daniel Shin, as well as Terraform Labs investors and engineers.

Enforcement

CSRC Proposes to Double Maximum Reward for Whistleblowers

By Editors | 01/12/2022

The CSRC also proposes to enable whistleblower reports to be submitted through its 12386 service platform.

AML / KYC

AUSTRAC Commences Court Proceedings Against Star Casinos

By Manesh Samtani | 01/12/2022

Star Sydney and Star Queensland breached one section of the law 1,189 and 325 times, respectively. Both are accused of “an innumerable number” of other breaches.