Enforcement

    Enforcement

    RBI Seeks Information from Banks on Gold Loan Frauds

    By Ajoy K Das | 15/03/2024

    RBI asked banks to review their gold lending processes after some banks were found to have manipulated the system to meet gold loan targets.

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    Enforcement

    Australian Court Rules Against ASIC in ‘Finder Earn’ Crypto Case

    By Editors | 15/03/2024

    The court ruled against ASIC’s contention that the crypto investment product known as ‘Finder Earn’ was a debenture and therefore required authorisation.

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    Enforcement

    OFAC Penalises Swiss Bank for Apparent Sanctions Violations

    By Editors | 15/03/2024

    OFAC said EFG International caused US firms to process 873 securities-related transactions on behalf of sanctioned individuals.

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    Enforcement

    APRA Removes NAB’s Capital Add-On for Operational Risk

    By Sanday Chongo Kabange | 14/03/2024

    APRA has removed the A$500mn capital add-on it imposed on NAB in 2019 to reflect higher operational risk identified in its risk governance self-assessment.

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    Enforcement

    Global Leaders Announce International Pact to Combat Fraud

    By Mark Johnston | 14/03/2024

    The new international agreement includes the G7 and Five Eyes nations, along with Singapore and South Korea.

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    AML / KYC

    US Court Convicts Alleged Founder of Crypto Mixer ‘Bitcoin Fog’

    By Editors | 14/03/2024

    Russian-Swiss national Roman Sterlingov was found guilty on four charges, though he maintained his innocence during the jury trial.

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    Crypto / Digital Assets

    Coinbase Launches Legal Challenge Against US SEC

    By Manesh Samtani | 13/03/2024

    Coinbase argues that the SEC acted arbitrarily and capriciously when it summarily denied a petition seeking tailored rules for the crypto industry.

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    Sanctions

    Switzerland Opens First Russia Sanctions-related Criminal Probe

    By Editors | 13/03/2024

    The company being probed is understood to be a commodity trading firm that used a UAE subsidiary to circumvent Swiss sanctions against Russia.

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    Crypto / Digital Assets

    Nigeria Detains Binance Execs After Inviting Them for Dialogue

    By Mark Johnston | 13/03/2024

    Two Binance executives have been detained in Nigeria following a visit to the country at the request of its government.

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    Enforcement

    Italy: UniCredit, NTT Data Fined Over 2018 Data Breach

    By Editors | 13/03/2024

    UniCredit failed to adopt technical and security measures capable of effectively countering cyberattacks, the Italian Data Protection Authority said.

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