ENFORCEMENT

Enforcement

US SEC Imposes Penalties on Digital Currency Group and Former CEO

By Mark Johnston | 22/01/2025

DCG and its former CEO will pay a total $38.5mn for misleading investors about the financial health of Genesis Global Capital.

Enforcement

NYAG Secures $1b Settlement Against ‘Predatory Lender’

By Nithya Subramanian | 22/01/2025

Yellowstone Capital exploited small businesses with fraudulent loans carrying illegal interest rates as high as 820% annually.

Enforcement

Japan FSA Suspends Audit Firm for Six Months for Misconduct

By Thisanka Siripala | 22/01/2025

The FSA said Aska Audit Corporation had weak audit quality controls, fabricated audit records and that its leadership lacked professional ethics

Enforcement

Mizuho Stops Accepting New Safe Deposit Box Customers

By Thisanka Siripala | 22/01/2025

The decision comes after an MUFG employee was arrested for stealing customers’ assets, putting the industry under heightened scrutiny

Enforcement

Australia to Bolster Enforcement Powers of ACMA

By Thisanka Siripala | 21/01/2025

Maximum penalties for breaches of industry codes and standards will be raised from A$250,000 to A$10mn.

AML / KYC

US Recovers Additional $20m in 1MDB Corruption Probe

By Nithya Subramanian | 21/01/2025

The recovery involves funds that were embezzled from 1MDB and paid to companies owned by a US businessman

Enforcement

US DOJ Sues KKR For Violating Pre-merger Review Law

By Nithya Subramanian | 21/01/2025

Investment firm KKR allegedly breached the law at least 16 times through document omissions, alterations, and failures to report deals

Enforcement

OFAC Fines Machine Tools Manufacturer for Violating Russia Sanctions

By Editors | 21/01/2025

OFAC said firms should ensure they implement effective measures to prevent both direct and indirect access to their goods and services by blocked persons

Enforcement

OFAC Fines Real Estate Company for Sanctions Evasion Scheme

By Editors | 20/01/2025

OFAC said FIs that deal with gatekeepers should conduct sufficient due diligence to ensure they are not acting as proxies for sanctioned parties