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Enforcement
US Court Convicts Another JPM Trader on Spoofing Charges
By Editors | 13/12/2022
Former precious metals trader faces up to 30 years in prison for placing deceptive orders intended in COMEX gold and silver futures.
AML / KYC
UK FCA Fines Santander for “Persistent Gaps” in AML Controls
By Editors | 13/12/2022
The FCA said Santander did not manage business banking accounts correctly and did not promptly deal with automated monitoring alerts.
Enforcement
UK Court Convicts Three for Defrauding Libyan Sovereign Fund
By Mark Johnston | 13/12/2022
The fund managers structured investments in a way that generated finder fees that they funnelled through offshore shell companies, causing around $46mn to Libya.
AML / KYC
ASIC Commences Proceedings Against Star Entertainment Execs
By Editors | 13/12/2022
ASIC says Star board members and key executives breached their duties by failing to address known money laundering risks.
AML / KYC
Chinese Police Arrest 63 Members of Crypto Money Laundering Gang
By Editors | 13/12/2022
The gang is estimated to have laundered up to CNY 12 billion for both domestic and foreign criminal groups using cryptocurrency.
Enforcement
EU Commission Accuses Two Banks of Cartel Conduct
By Editors | 12/12/2022
Deutsche Bank and Rabobank traders allegedly exchanged commercially sensitive information and coordinated pricing and trading strategies on government bonds.
Enforcement
Singapore: Ex-Agritrade CFO Pleads Guilty to Deceiving Banks
By Editors | 12/12/2022
The former CFO used false financial statements to obtain loans for Agritrade International and its suppliers, causing over $469mn in losses for up to 12 banks.
Enforcement
FCA Fines Interdealer Brokers Over Inadequate Trade Surveillance
By Editors | 12/12/2022
Between July 2016 and January 2018, BGC Brokers, GFI Brokers and GFI Securities had deficient surveillance processes and insufficient asset class coverage.
Enforcement
US Sanctions Nasdaq Listed Company, Other ‘Corrupt’ Actors
By Manesh Samtani | 12/12/2022
The sanctions were connected to illegal fishing. The US, UK and Australia also sanctioned dozens of others in recognition of International Anti-Corruption Day and Human Rights Day.
Enforcement
SEBI Warns Against Misuse of Whistleblower Policy
By Editors | 11/12/2022
A SEBI official said many whistleblower complaints are frivolous, mischievous or aimed at settling personal scores.
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