Enforcement

Enforcement

SFC, ICAC Arrest Eight Over Ramp-and-Dump Schemes

By Editors | 11/11/2022

Combating social media ramp-and-dump schemes remains one of the top enforcement priorities of the SFC, says executive director of enforcement, Christopher Wilson.

Crypto / Digital Assets

OFAC Redesignated Tornado Cash to Link to DPRK WMD Programme

By Editors | 10/11/2022

The August designation did not connect Tornado Cash to North Korea’s nuclear programme.

Crypto / Digital Assets

US Court Rules Crypto Firm LBRY Sold Unregistered Securities

By Manesh Samtani | 09/11/2022

Industry watchers say the ruling could have implications for the SEC’s suit against Ripple, which was charged in December 2020 with selling unregistered securities.

AML / KYC

New Zealand DIA Issues Warning to BNPL Provider Openpay

By Editors | 09/11/2022

Openpay failed to establish, implement, and maintain an AML/CFT programme and to adequately monitor accounts and transactions.

Enforcement

SFC Fines Asset Manager Over Discretionary Trading Controls

By Editors | 09/11/2022

Internal control failures were identified after a client complained that discretionary options trades fell outside the scope of the mandate.

AML / KYC

UK Court Orders Glencore to Pay Over $300m for Africa Oil Bribes

By Editors | 08/11/2022

The SFO found that Glencore funnelled about $29mn worth of bribes between 2011 and 2016 to gain access to oil rights across Africa.

Enforcement

Federal Court Finds NAB Knowingly Overcharged Customers

By Editors | 08/11/2022

NAB became aware of the issue in January 2017 and did not stop overcharging customers until February 2019, court documents say.

Crypto / Digital Assets

US Agents Seized Over $3.3bn in Silk Road’s Bitcoin Last Year: DOJ

By Editors | 08/11/2022

Over 50,000 Bitcoin, stolen from online marketplace Silk Road in 2012, was seized in November 2021 and has since lost more than two-thirds of its value.

AML / KYC

China Investigates Top PBOC Official for Possible Corruption

By Editors | 07/11/2022

PBOC deputy governor Fan Yifei has been placed under investigation over allegations of “severe violations of discipline and law”.