ENFORCEMENT

AML / KYC

Malaysia Investigating Banks Over Loan Fraud Scheme

By Nithya Subramanian | 28/01/2025

MACC has frozen funds linked to 98 bank accounts, arrested 21 individuals and seized luxury assets. 5-6 banks are being investigated.

Enforcement

Hong Kong: Former OCBC Banker Pleads Guilty to Accepting Bribes  

By Sanday Chongo Kabange | 28/01/2025

The former bank employee accepted a bribe to refer mortgage clients to an agent so he could earn referral fees from a different lender

Enforcement

NYDFS Fines PayPal $2m for Cybersecurity Failures

By Nithya Subramanian | 28/01/2025

NYDFS said teams tasked with implementing changes to existing data flows were not properly trained, resulting in customer data being accessible to cybercriminals.

Enforcement

Australian Court Orders Firstmac to Pay A$8m for DDO Breaches

By Thisanka Siripala | 28/01/2025

The court said Firstmac was “objectively reckless”. This is the first civil penalty action against a distributor involving DDO breaches.

Sanctions

Russia Proposes Jail for Disclosure of Sanctions Circumvention Methods

By Editors | 27/01/2025

The draft law reportedly points to websites that disseminate leaked customs data and information in the media about logistics schemes for delivering sanctioned goods.

Crypto / Digital Assets

US Authorities Secure Settlement With Crypto Market Maker

By Nithya Subramanian | 24/01/2025

CLS Global admitted to providing market-making services for NexFundAI, a token created by the FBI to help it uncover crime

Enforcement

Another US Court Rules Tornado Cash Sanctions Were Unlawful

By Editors | 23/01/2025

Court ruled that Tornado Cash smart contracts could not be classified as property IEEPA. A similar ruling was issued by a different court in November 2024.

Crypto / Digital Assets

Korean Regulators Refer Crypto Manipulation Case for Prosecution

By Mark Johnston | 23/01/2025

The case is the first processed in accordance with the official investigation procedures set by the new Virtual Asset User Protection Act

AML / KYC

Singapore Court Charges Ex-Filing Agent in $3b Money Laundering Case

By Nithya Subramanian | 23/01/2025

Former CSP director charged for falsifying company accounts, making false representations to authorities, and forging documents to cheat FIs.