Enforcement

Enforcement

SC Malaysia Charges Former CIMB Banker for Securities Fraud

By Nithya Subramanian | 21/09/2024

The former banker allegedly defrauded seven investors of MRW 201,000 and carried out unlicensed fund management activities.

AML / KYC

Singapore FIU Seeks Information on Bangladeshi Conglomerate

By Nithya Subramanian | 20/09/2024

The STRO asked the BFIU to provide details on S Alam Group, a Bangladeshi conglomerate that is suspected of money laundering.

Enforcement

US SEC Fines Macquarie Unit $80m for Overvalued CMOs

By Nithya Subramanian | 20/09/2024

The Macquarie unit overvalued odd lot CMO positions and then executed cross trades to push the resulting losses to retail funds.

AML / KYC

German Authorities Shut Down 47 Cryptocurrency Exchanges

By Nithya Subramanian | 20/09/2024

The crypto exchanges did not carry out identity and background checks on customers and allowed them to conduct financial transactions anonymously.

Enforcement

US SEC Files First Charges Involving Romance Scams

By Nithya Subramanian | 20/09/2024

In the first charges of this type, the SEC alleges that fraudsters used social to lure investors to fake crypto platforms before stealing their money.

AML / KYC

FINMA Confiscates $15m from Private Bank Mirabaud for AML Failures

By Nithya Subramanian | 19/09/2024

FINMA barred the bank from accepting high-risk clients and ordered it to overhaul its risk management, internal controls, and corporate governance.

Enforcement

US SEC Fines Former FTX Auditor for Negligence-related Fraud

By Nithya Subramanian | 19/09/2024

Prager Metis issued two audit reports for FTX between 2021 and 2022, but failed to comply with auditing standards and apply “due care” in those audits.

AML / KYC

Europol Leads Takedown of Messaging Platform Used by Criminals

By Manesh Samtani | 19/09/2024

A total 51 suspects have been arrested, including 38 in Australia, where the platform’s mastermind was located and a drug lab was dismantled.

Capital / Liquidity

US DOJ Probing Whether Banks Colluded During Archegos Wind-down

By Nithya Subramanian | 19/09/2024

The Justice Department is reportedly investigating whether some Wall Street banks coordinated stock sales during the Archegos collapse.