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ENFORCEMENT
Enforcement
ASIC Sues HSBC for Failing to Protect Customers from Scams
By Sanday Chongo Kabange | 16/12/2024
ASIC says HSBC contravened the Corporations Act and Credit Act and caused customers to lose A$23mn from unauthorised payments.
Sanctions
OFAC Fines Global Logistics Firm for Sanctions Violations
By Editors | 16/12/2024
The violations of Cuba and Iran sanctions were committed by subsidiaries based in China, Spain, Canada, Australia and Peru.
Enforcement
Korea Implements New Guidelines for Punishing Executives of FIs
By Manesh Samtani | 15/12/2024
The guidelines set out the process for how CEOs and executives of FIs will be sanctioned for failures to fulfill their internal control duties.
Enforcement
SGX Reprimands RHT Capital for Breaching Sponsor Obligations
By Editors | 14/12/2024
RHT Capital failed to advise Y Ventures to promptly disclose that its financial statements contained material errors that were false and misleading
AML / KYC
US Authorities Arrest Former TD Bank Employee for Money Laundering
By Thisanka Siripala | 13/12/2024
The ex-employee allegedly issued debit cards from Florida that were used to withdraw narcotics proceeds through ATMs in Colombia.
Enforcement
Australia Court Orders Kraken to Pay A$8m for DDO Breaches
By Sanday Chongo Kabange | 13/12/2024
ASIC believes many crypto products are subject to the same design and distribution requirements that resulted in Kraken’s penalty.
Enforcement
US Authorities Charge 14 Over DRPK IT Workers Scheme
By Editors | 12/12/2024
US employers unwittingly employed 14 North Korean IT workers for years and paid them hundreds of thousands of dollars in salary.
Sanctions
UK to Help Cyprus Establish Sanctions Implementation Unit
By Editors | 12/12/2024
That new unit will have new analytical tools and powers to investigate sanctions evasion and ensure the effectiveness of Russia-related sanctions.
Enforcement
Former Chairman of China Everbright Group Handed Jail Sentence
By Editors | 12/12/2024
Tang Shuangning embezzled public property while at the PBOC in 2003 and accepted bribes in various positions between 2000 and 2017.
Sanctions
China Launches Antitrust Probe into US Chip Giant Nvidia
By Editors | 11/12/2024
The probe is seen as a geopolitical rather than a regulatory or legal action, in retaliation against the US’ latest curbs on China’s chip sector.
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