ENFORCEMENT

Enforcement

Myanmar Cracks Down on Cross-border Remittances

By Editors | 06/06/2024

“Hundi” cash transfer services and overseas property deals are being blamed for a severe depreciation of Myanmar’s currency.

AML / KYC

17 Others Involved in Singapore Money Laundering Probe – Report

By Nithya Subramanian | 06/06/2024

The SGD 3 billion in cash and assets seized or issued with prohibition of disposal orders belonged to 27 individuals, not just the 10 accused so far.

Crypto / Digital Assets

Japan FSA Directs Crypto Firm to Report on $300m Theft

By Editors | 06/06/2024

The FSA directed DMM Bitcoin to investigate and report on the cause of the theft. The government will monitor these efforts and “respond appropriately”.

Enforcement

SFC Obtains Asset Freeze Orders from Canadian Regulator

By Sanday Chongo Kabange | 06/06/2024

The preservation orders were made to restrain the assets of a former Hong Kong CEO pursuant to the IOSCO EMMoU.

AML / KYC

US Authorities Accused of Ignoring Evidence Against StanChart

By Editors | 06/06/2024

A whistleblower says US officials falsely denied that he had provided useful information in order to have his claim for a whistleblower reward dismissed.

ESG / Sustainability

Active Super Engaged in Greenwashing, Australia Court Rules

By Sanday Chongo Kabange | 06/06/2024

Active Super made “misleading” and “deceptive” representations regarding exclusions applied to gambling, coal mining, Russian entities and oil tar sands investments.

AML / KYC

US Authorities Arrest Epoch Times CFO for Money Laundering

By Editors | 06/06/2024

The DOJ alleges Weidong Guian participated in a “sprawling, transnational scheme” to launder $67mn million of crime proceeds.

Crypto / Digital Assets

No Penalty for Block Earner, Australian Court Rules

By Sanday Chongo Kabange | 05/06/2024

The Federal Court said Block Earner will not have to pay a penalty as it acted “honestly” before offering its “Earner” product.

Enforcement

APRA Fines Superannuation Trustee for Late Reporting

By Sanday Chongo Kabange | 05/06/2024

APRA said Equity Trustees Superannuation lodged 15 reporting forms late for two funds under its trusteeship.