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ENFORCEMENT
Enforcement
US DOJ, Jho Low Reach Global Pact on 1MDB Asset Forfeiture: Report
By Nithya Subramanian | 01/07/2024
The agreement forever resolves the United States’ civil, criminal and administrative asset forfeiture actions of monies and assets traceable to 1MDB.
Enforcement
Federal Court Orders Ferratum Australia to Pay A$16m
By Editors | 28/06/2024
The Court found that Ferratum’s non-compliance arose from its Finland-based parent company’s lack of attention to Australian regulatory requirements
AML / KYC
Taiwanese Singer Facing Prosecution Over JPEX Crypto Fraud
By Editors | 28/06/2024
Popular Taiwanese singer Nine Chen reportedly received 320,000 USDT to act as JPEX’s brand ambassador last year.
AML / KYC
US DOJ to Recover Additional $100mn in 1MDB Case
By Nithya Subramanian | 27/06/2024
Jho Low will forfeit a luxury apartment in Paris and artworks by Andy Warhol and Claude Monet purchased for USD 35 million.
Enforcement
SFC Bars Former Securities Exec Over Secret Trading Account
By Sanday Chongo Kabange | 27/06/2024
The former chief operations officer of DA International Financial Service violated the company’s employee dealing policy.
Enforcement
OFAC Fines Italian Animation Company for Sanctions Violations
By Editors | 27/06/2024
Mondo TV made wire transfers via US financial institutions to an animation studio owned by the North Korean government.
AML / KYC
Singapore’s National Asset Recovery Strategy To Enhance AML Regime
By Nithya Subramanian | 27/06/2024
The newly published asset recovery strategy takes a multi-faceted approach and is based on four pillars – detect, deprive, deliver and deter.
Enforcement
China Targets Regulatory, Banking Officials in New Corruption Probes
By Mark Johnston | 26/06/2024
Among the new targets are former officials from the CSRC, NFRA, Agricultural Bank of China, ICBC and Citi Group.
Enforcement
$137m Embezzled from Korean FIs from 2018-2023: FSS
By Nithya Subramanian | 26/06/2024
Less than 10% of the embezzled funds have been recovered to date. Meanwhile, the FSS has expanded its inspection team handling Woori’s latest embezzlement case.
Enforcement
Japan FSA Orders MUFG Units to Correct Control Deficiencies
By Mark Johnston | 26/06/2024
The MUFG units breached Japan’s “firewall” regulations by sharing non-public client information without authorisation, the FSA said.
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