ENFORCEMENT

AML / KYC

Australian Police Charge Man for Crypto Related Money Laundering

By Editors | 23/02/2021

Police say the Sydney man directed “money launderers for hire” to convert nearly A$5.5mn of cash into bitcoin on his behalf.

Enforcement

SFC Fines Asset Manager for Short Position Reporting Errors

By Editors | 23/02/2021

The SFC found that 7,814 short positions held by collective investment schemes managed by Brilliance Asset Management were either misstated or omitted.

Enforcement

Targeted Product Intervention to Lead to ‘Less Regulation’: ASIC

By Ranamita Chakraborty | 22/02/2021

Commissioner Sean Hughes said ASIC will only need to intervene when there are signs of harm and misconduct, emphasising the checks and balances in place.

Enforcement

HKEX Probes for Rule Violations by Retail IPO Investors

By Editors | 22/02/2021

Brokers involved in the New Horizon Health IPO have been asked to provide information on the retail investors who were allotted stocks.

AML / KYC

US Prosecutors Unveils New Charges Against North Korean Hackers

By Manesh Samtani | 21/02/2021

Warrants have been issued for the arrest of the three programmers said to be involved in the Sony, WannaCry, Bangladesh Bank and other attacks.

Enforcement

Singapore Police Investigate Nickel Trading Investment Fraud

By Editors | 21/02/2021

Envy Asset Management and Envy Global Trading are suspected of using investors’ funds to finance nickel trading activities. Both have had their bank accounts frozen.

AML / KYC

UK, Canada Impose Sanctions Against Myanmar Officials

By Manesh Samtani | 21/02/2021

Human Rights Watch is calling for economic sanctions, travel bans and asset freezes for leaders of Myanmar’s military, military business conglomerates and the new governing body.

AML / KYC

HK Banks Used to Launder Over HK$8bn in Scam Proceeds in 2020

By Editors | 21/02/2021

More than 10,000 bank accounts are believed to have been used in 2020 to collect and launder the funds before being channelled out of Hong Kong.

AML / KYC

OFAC Settles Sanctions Case Against Crypto Payments Processor BitPay

By Editors | 20/02/2021

BitPay is said to have enabled individuals in sanctioned jurisdictions to engage in $129,000 worth of digital currency-related transactions with its merchant customers.