Enforcement

Enforcement

US Regulator Files Lawsuit Targeting Zelle and Three Major Banks

By Editors | 24/12/2024

The CFPB says JPMorgan, BofA and Wells Fargo failed to implement anti-fraud safeguards on Zelle, resulting in $870mn in losses to customers over 7 years.

Enforcement

FMA Says Westpac NZ Admitted to Overcharging 24,000 Customers

By Editors | 24/12/2024

The bank self-reported the issue, fully cooperated with the FMA’s investigation, and provided remediation to impacted customers.

Enforcement

Bank Indonesia Under Investigation by Anti Corruption Agency

By Editors | 23/12/2024

KPK searched several rooms at Bank Indonesia including the governor’s office. A search operation was also conducted at OJK.

AML / KYC

FMA Launches Legal Action Against InvestNow for Breaching AML Rules

By Editors | 22/12/2024

The FMA said it considers failures by retail investment platform InvestNow to be “significant and, in some respects, systemic.”

Enforcement

RBI Removes Business Restrictions on Two Edelweiss Group Firms

By Editors | 22/12/2024

The RBI is satisfied that adequate remedial measures have been put in place at the two entities to address its earlier supervisory concerns.

Crypto / Digital Assets

US SEC Fines Unit of Jump Trading Over TerraUSD Collapse

By Editors | 21/12/2024

The SEC said Tai Mo Shan Limited deceived the market about TerraUSD’s stability while purchasing the stablecoin to restore its peg.

Sanctions

OFAC Announces Two New Settlements for Sanctions Violations

By Editors | 20/12/2024

An individual US person violated Magnitsky sanctions and a US manufacturer of musical instruments violated Iran sanctions.

Enforcement

Hong Kong ICAC, Competition Commission to Enhance Collaboration

By Manesh Samtani | 19/12/2024

The ICAC and the Competition Commission signed an MoU to enhance collaboration in combating corruption and anti-competitive conduct

Enforcement

JSDA Fines Nomura Over JGB Futures Manipulation Case

By Editors | 19/12/2024

The FSA, OSE and TSE have each already penalised Nomura Securities for JGB futures manipulation by one of its traders in March 2021.