Enforcement

Crypto / Digital Assets

US Files Lawsuit to Recover Crypto Linked to FTX Bribery

By Nithya Subramanian | 14/11/2024

Prosecutors are suing to obtain cryptocurrency in an account allegedly connected to bribes paid to Chinese officials before FTX collapsed.

Enforcement

New Zealand Court Fines Lender for Credit Law Breaches

By Sanday Chongo Kabange | 14/11/2024

Some of Eagle MAN’s loans charged an interest rate of 182.5 percent per annum, on top of credit and default fees.

AML / KYC

UK FCA Fines Metro Bank for Transaction Monitoring Failures

By Nithya Subramanian | 14/11/2024

A data-feeding error meant 60 million transactions were not monitored by Metro Bank over a four-year period.

Enforcement

ASIC Sues Cbus Trustee Over Systemic Claims Handling Failures

By Sanday Chongo Kabange | 14/11/2024

ASIC said more than 10,000 members and claimants of Cbus were impacted by slow processing of death benefits and TPD insurance claims.

AML / KYC

OFAC Probes UBS for Russia Risk from Credit Suisse Takeover

By Editors | 13/11/2024

OFAC is reportedly seeking information from UBS about the Russian clients the bank took on when it bought Credit Suisse in March 2023.

AML / KYC

Spanish Police Chief Arrested Over Links to Criminal Gangs

By Nithya Subramanian | 13/11/2024

Óscar Sánchez Gil was until recently the head of the fraud and AML division of Spain’s national police force in Madrid.

Enforcement

US PCAOB Revokes Registration of China-based Accounting Firm

By Editors | 13/11/2024

The Shenzhen-based CPA firm was censured and had its registration revoked over reporting failures and failure to cooperate with an investigation.

Enforcement

Korea FSS Fines Shinhan Bank over Prohibited Business Conduct  

By Sanday Chongo Kabange | 13/11/2024

The FSS fined Shinhan Bank KRW 280 million and directed the bank to improve its internal controls for handling vulnerable customers.

Enforcement

Australia Jails Ex-Investment Manager Over False Performance Reports

By Sanday Chongo Kabange | 13/11/2024

The forged portfolio performance verification reports falsely verified or claimed a history of successful investment returns.