Enforcement

Enforcement

Swiss Court Commences Trial Against Trafigura Over Angola Bribes

By Nithya Subramanian | 03/12/2024

This is the first time Switzerland’s Federal Criminal Court will have to rule on a company’s liability for alleged bribery of a foreign official.

Enforcement

SEC Settles ICBC Recordkeeping Charges from 2023 Cyber Incident

By Editors | 03/12/2024

ICBC failed to keep its books and records current for almost four months following the November 2023 ransomware attack. No penalty was imposed.

Enforcement

Former CEO Pleads Guilty to Violating US Export Controls

By Editors | 03/12/2024

The former CEO of a freight forwarding company made over 1,000 shipments to Chinese companies on the Entity List that were dealing with North Korea.

ESG / Sustainability

US States Sue Major Asset Managers for Alleged Antitrust Violations

By Nithya Subramanian | 03/12/2024

The lawsuit alleged that BlackRock, Vanguard and State Street drove up electricity prices by pressuring coal companies to cut their carbon emissions.

AML / KYC

Australian Police Dismantle Money Laundering Syndicate

By Sanday Chongo Kabange | 03/12/2024

The AFP has arrested four men and dismantled an organised crime syndicate that allegedly laundered A$10mn of criminal proceeds.

AML / KYC

Lombard Odier, Ex-Banker Indicted in Swiss Money Laundering Case

By Nithya Subramanian | 03/12/2024

Swiss prosecutors alleged that Lombard Odier and one of its former RMs concealed dirty funds and engaged in “aggravated money laundering”.

Enforcement

MAS Fines JPMorgan Over Misconduct by Relationship Managers

By Nithya Subramanian | 03/12/2024

JPMorgan relationship managers misrepresented the price components in OTC bond transactions and overcharged clients.

AML / KYC

Malaysian Court Drops Corruption Charges Linked to 1MDB: Report

By Nithya Subramanian | 02/12/2024

The court granted an acquittal to Najib Razak and another former official due to procedural delays and the prosecution’s failure to provide crucial documents.

Enforcement

ICAC Charges Former SFC Manager for Sharing Confidential Information

By Sanday Chongo Kabange | 02/12/2024

The former SFC manager shared confidential information about a 2023 rights issue to personal friends who used it to make HK$11mn in trading profit.