Enforcement

AML / KYC

New Zealand DIA Issues Formal AML Warning to Lawyer

By Sanday Chongo Kabange | 13/05/2024

The lawyer failed to establish, implement and maintain an AML/CFT programme, conduct on-going CDD, and report transactions.

Fintech / Regtech

RBI Lifts Restrictions on Bank of Baroda Mobile App

By Ajoy K Das | 12/05/2024

The bank was barred from onboarding customers on its ‘BoB World’ app following misuse by employees.

AML / KYC

Singapore to Strengthen Laws to Pursue Money Launderers

By Nithya Subramanian | 10/05/2024

Sectoral regulators will have access to STRs filed by entities they regulate, to enable better detection.

Enforcement

FCA Defends Proposal to Name Firms Under Investigation

By Editors | 09/05/2024

The government, lawmakers and industry worry that the ‘name and shame’ approach will harm the market and individual companies.

Enforcement

US Trial Begins Over Collapse of Archegos Capital Management

By Manesh Samtani | 09/05/2024

Archegos Founder Bill Hwang is charged with racketeering conspiracy, securities fraud, wire fraud and market manipulation.

Crypto / Digital Assets

FTX to Make Full Repayment to Non-Government Creditors

By Manesh Samtani | 09/05/2024

Under the reorganisation plan, up to 98% of non-government creditors will receive about 118% of their claims in cash.

Enforcement

ASIC Fines JP Morgan Unit for Failure to Detect Suspicious Trades

By Sanday Chongo Kabange | 09/05/2024

The case highlights that market participants “cannot solely rely on automated trade monitoring systems” to detect potential misconduct.

Enforcement

BNM Fines 14 Banks Over Erroneous Statistical Submissions

By Sanday Chongo Kabange | 09/05/2024

The reporting failures were caused by unresolved technical issues and inadequate operating procedures.

Enforcement

US SEC Notifies Robinhood of Pending Enforcement Action

By Editors | 08/05/2024

The action is related to the cryptocurrencies offered on Robinhood’s platform, some of which may be classified by the SEC as securities.