Enforcement

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    AML / KYC

    Nigeria Sues Binance for Economic Losses and Back Taxes

    By Nithya Subramanian | 25/02/2025

    The tax authority contends that Binance has a “significant economic presence” in Nigeria, making it liable for corporate income tax.

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    Enforcement

    Australian Online Safety Commissioner Imposes A$1m on Telegram

    By Thisanka Siripala | 24/02/2025

    The messaging platform said the fine is “unfair and disproportionate” and indicated its intention to appeal the decision.

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    Enforcement

    US SEC Dropping Cases Against Coinbase, OpenSea

    By Thisanka Siripala | 24/02/2025

    Coinbase said this is not just a victory for the company, but also for its customers, the US, and “individual freedom”.

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    Enforcement

    South Korea’s Kyongnam Bank Fined $2.8m for Accounting Violation

    By Thisanka Siripala | 24/02/2025

    The fine is linked to an embezzlement scandal involving a former bank executive recently sentenced to 35 years in jail.

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    Enforcement

    UK CMA Fines Banks $132m for Anti Competitive Conduct

    By Thisanka Siripala | 24/02/2025

    Citigroup, HSBC, Morgan Stanley, and RBC were fined. Deutsche Bank also participated but was granted immunity for reporting the misconduct.

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    Enforcement

    China Sentences Ex-ICBC Executive Zhang to Death with Reprieve

    By Mark Johnston | 24/02/2025

    Zhang Hongli was found to have accepted CNY 177 million in bribes in exchange for facilitating loans and securing employment positions for others.

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    Enforcement

    Federal Court Orders AustralianSuper to Pay A$27m Penalty

    By Thisanka Siripala | 24/02/2025

    AustralianSuper failed to merge duplicate accounts, resulting in members incurring redundant administration fees, insurance premiums, and lost investment earnings.

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    Enforcement

    FSS Korea’s 2025 Inspection Strategy to Target Internal Controls

    By Thisanka Siripala | 23/02/2025

    The FSS will conduct 9% more inspections in 2025 compared to 2024, focusing on areas such as internal controls, risk prevention, misconduct, and high-risk product sales.

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    Enforcement

    FTX Begins Creditor Repayments After Three-Year Wait

    By Nithya Subramanian | 23/02/2025

    The FTX estate has started distributing funds to creditors, with initial payouts prioritising small claims under $50,000.

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    Enforcement

    DBS Wealth Manager Pleads Guilty on Cheating Charges

    By Nithya Subramanian | 21/02/2025

    The former bank employee lured clients into making investments and then had them transfer funds into his personal accounts.

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