ENFORCEMENT

AML / KYC

DOJ Charges Three for North Korea Sanctions Breaches

By Sanday Chongo Kabange | 15/09/2020

Two North Koreans and one Malaysian allegedly used front companies to deceive US banks into processing transactions for North Korean customers.

AML / KYC

FATF Details Virtual Asset Red Flags for Detecting Criminal Activity

By Editors | 15/09/2020

This report will help VASPs, FIs, DNFBPs, and other reporting entities detect and report suspicious transactions, and national authorities detect criminal activity.

Enforcement

Korea to Strengthen Penalties for Naked Short Selling

By Manesh Samtani | 15/09/2020

Under a new bill, unauthorised short selling can be punished criminally, in addition to a penalty up to 300% of profits obtained or losses avoided through the short selling.

Enforcement

Japan: Nomura Employee Leaks Client Information to Securities Firm

By Editors | 14/09/2020

Nomura has apologised for the incident and pledged to strengthen its management of customer information. It will also consider taking legal action against the offending staffer.

Enforcement

ASIC Power to Obtain Documents Upheld in Federal Court

By Editors | 14/09/2020

Two separate rulings against Maxi EFX and IOOF-owned RI Advice clarify obligations for those who receive ASIC notices requiring them to produce documents.

Enforcement

SFC Issues Statement on Alleged Manipulation of Next Digital Shares

By Manesh Samtani | 14/09/2020

The SFC does not explicitly say whether it is investigating Next Digital trading activity or whether a request for assistance was received from police ahead of last week’s arrests.

Enforcement

Federal Court Imposes A$57.5m Penalty Against NAB Units

By Editors | 13/09/2020

NULIS Nominees and MLC Nominees admitted to misleading or deceptive conduct, false or misleading representations, and breaches of the ASIC Act and Corporations Act.

Enforcement

Shenzhen’s ChiNext Board Under Scanner for Corruption Risk

By Editors | 13/09/2020

China’s anti-graft watchdog is looking into whether wild swings may have been caused by insider trading or manipulation involving exchange officials.

AML / KYC

OFAC Settles Deutsche Bank Trust Sanctions Violations

By Editors | 13/09/2020

The settlement covers a large payment linked to a designated oil company and 61 payments made to a sanctioned bank in 2015.