Enforcement

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

Enforcement

US SEC Fines Vanguard for Misleading Retirement Fund Disclosures

By Nithya Subramanian | 20/01/2025

The SEC penalised Vanguard for failing to disclose tax risks tied to redemptions from its target retirement funds, leaving retail investors with higher tax liabilities.

Enforcement

Amex to Pay $230mn to Settle Case Over Deceptive Sales Practices

By Thisanka Siripala | 19/01/2025

American Express sales employees misrepresented the tax benefits of certain products and used false employer identification numbers to open accounts

Enforcement

Upbit Facing Potential Business Restrictions for AML Noncompliance

By Mark Johnston | 19/01/2025

South Korea’s largest cryptocurrency exchange is facing restrictions on conducting business with new customers for up to three months

Enforcement

FDIC Sues Former SVB Executives for Gross Negligence

By Thisanka Siripala | 18/01/2025

The FDIC says SVB’s management ignored fundamental banking standards and the bank’s own risk policies “in pursuit of short-term profit”.

Enforcement

Equifax Fined $15m Over Mishandled Consumer Disputes

By Nithya Subramanian | 18/01/2025

The CFPB said Equifax repeatedly failed to address consumer complaints about inaccuracies on their credit reports.