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Enforcement
SG Police Make Series of Arrests Targeting Scam Syndicates
By Editors | 24/08/2022
4 were arrested over phishing scams targeting bank customers, and another 13 as part of a joint operation with Malaysian police.
AML / KYC
Malaysia: Federal Court Upholds Najib Razak Conviction
By Editors | 24/08/2022
Najib was convicted in 2020 on 1MDB-related charges. The federal court upheld the conviction, requiring him to serve a 12 year jail sentence.
Enforcement
US Court Allows Use of Crypto Firm’s Records to Identify Tax Cheats
By Editors | 23/08/2022
Crypto prime dealer SFOX will have to reveal the identities of customers who are US taxpayers and information on their crypto transactions.
AML / KYC
India, Russia Continue to Explore Non-USD Trade Options
By Editors | 23/08/2022
Indian and Russian banks are discussing the use of customised trade accounts and an exchange rate mechanism that will enable trade settlement in rupees and rubles.
AML / KYC
Malaysia to Enhance AML Supervision of Company Secretaries, Trust Companies
By Editors | 23/08/2022
The Companies Commission of Malaysia will “take on greater responsibility” in supervising company secretaries and trust companies “in the near future”.
AML / KYC
US Concerned India is Routing Russian Oil to New York
By Editors | 22/08/2022
An Indian vessel picked up oil from a Russian tanker at sea, then brought it to an Indian port to be refined and shipped on to New York.
AML / KYC
Almost $2b Stolen from Crypto Hacks in H1 2022: Chainalysis
By Editors | 22/08/2022
The value stolen from crypto hacks increased 60% from the same pariod last year, largely attributed to vulnerabilities of DeFi protocols.
AML / KYC
Korean Authorities to Block, Investigate 16 Foreign Crypto Firms
By Editors | 21/08/2022
The unregistered foreign VASPs including KuCoin were referred for investigation and will have their websites and transactions blocked in Korea.
Enforcement
Wirecard-related Charges Filed in Singapore, Philippines
By Editors | 18/08/2022
The charges in Singapore are for criminal breach of trust and money laundering. A bank official in the Philippines was indicted.
AML / KYC
SEC Charges 18 for Manipulation Using Hacked Trading Accounts
By Editors | 18/08/2022
The hackers broke into at least 31 US retail brokerage accounts to buy stock to drive up prices and exit their positions at artificially high prices.
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