ENFORCEMENT

Enforcement

HSBC Responsible Officer Disqualified Over MPF Referral Programme

By Sanday Chongo Kabange | 09/09/2024

The responsible officer was disqualified for 30 months for his role in recruiting unregistered personnel to refer MPF corporate clients to HSBC.

Enforcement

HKMA Suspends Ex-Hang Seng Bank Employee for Dishonest Conduct

By Sanday Chongo Kabange | 09/09/2024

The HKMA suspended a former Hang Seng Bank relevant individual for fabricating a client’s signature on a time deposit application form.

Enforcement

Singapore Charges 6 for Illegal Cross-Border Money Transfers

By Nithya Subramanian | 09/09/2024

The individuals provided unlicensed cross-border money transfer services to China, Myanmar, Bangladesh, Indonesia, and Sri Lanka.

AML / KYC

DOJ Charges Russian TV Presenter With Violating US Sanctions

By Editors | 08/09/2024

The television presenter and producer for Russia’s state-owned Channel One, along with his wife, were charged for sanctions violations and money laundering.

Enforcement

German Court Orders Former Wirecard Execs to Pay Damages

By Editors | 06/09/2024

The court found that three executives should be held personally liable for granting €100mn in loans without due diligence or collateral.

Crypto / Digital Assets

CFTC Fines Uniswap for Offering Crypto Derivatives Without Registration

By Nithya Subramanian | 06/09/2024

The CFTC’s Ian McGinley said DeFi operators must be vigilant to ensure transactions comply with the law. Two commissioners dissented.

AML / KYC

HK Customs Announces Disciplinary Actions Against Four MSOs

By Editors | 06/09/2024

The MSOs failed to keep records of remittance transactions and to identify beneficial owners and PEPs, among other breaches of AML/CTF requirements.

Enforcement

Japanese Insurers Under Microscope for 2.5m Data Breaches

By Thisanka Siripala | 06/09/2024

Four insurance agencies found leaks of personal information by employees to try and win business and encourage customers to switch providers.

Enforcement

US Charges Six Hamas Leaders for Terrorism, Sanctions Evasion

By Editors | 06/09/2024

The DOJ said Hamas crypto fundraising efforts caused US persons to engage in transactions that violated US sanctions regulations.