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Enforcement
Korean Authorities Arrest 16 Over Illegal FX Transactions
By Editors | 05/09/2022
In some cases, funds were remitted overseas via commercial banks, disguised as payments for trade businesses to exploit the “Kimchi premium”.
Securities / Derivatives
Russia Bond CDS Auction to Be Held on 12 September
By Editors | 04/09/2022
The amounts holders of CDS on Russian debt are likely to receive has reportedly dropped by about a third since early June.
AML / KYC
German Prosecutors Raid JP Morgan as Part of Cum-Ex Probe
By Editors | 04/09/2022
Around 1,500 people are currently under investigation across 50 international and domestic financial institutions and brokers.
Crypto / Digital Assets
FBI Calls on DeFi Platforms to Bolster Safeguards Against Theft
By Editors | 04/09/2022
DeFi platforms are asked to institute real time analytics, monitoring, rigorous code testing, and incident response plans.
AML / KYC
Malaysian Court Convicts Wife of Najib Razak for Corruption
By Editors | 01/09/2022
Rosmah Mansor was convicted for taking bribes from a contractor in exchange for a government project to supply solar energy to rural schools.
AML / KYC
Iran Passes Law Authorising Use of Crypto for Imports
By Editors | 01/09/2022
The new law formally allows government and local businesses to use cryptocurrencies as payment for imports.
AML / KYC
MAS Fines UOBKH for Business Conduct, AML Failures
By Editors | 31/08/2022
UOBKH failed to implement adequate controls for its corporate finance business and to ensure it was subject to internal audit.
AML / KYC
Indian Banks Inconsistently Reporting Fraud Incidents to Regulator
By Editors | 31/08/2022
Kotak Mahindra Bank suggests such digital frauds are not being reported by other banks, making its own figures look disproportionately higher.
AML / KYC
Chinese Police Arrest 234 Suspects for Henan Bank Fraud
By Editors | 31/08/2022
Authorities say they have made “significant progress” in recovering the stolen money and have also started repaying more victims of the fraud.
AML / KYC
AUSTRAC Orders AML Audit at The Perth Mint
By Manesh Samtani | 31/08/2022
Earlier reports suggest the audit could be related to Perth Mint’s previous relationship with Euro Pacific Bank, which was forced to close in Puerto Rico earlier this year.
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