Enforcement

Enforcement

Korean Authorities Investigate Bithumb for Possible Tax Evasion

By Editors | 11/01/2023

Tax authorities raided Bithumb’s headquarters in Seoul on Tuesday. Two of its former chairmen have also been the subject of separate probes.

AML / KYC

UK FCA Fines Nigeria’s Guaranty Trust Bank for AML Weaknesses

By Editors | 11/01/2023

The FCA said the bank’s behaviour mirrored previous misconduct, for which it was also fined in 2013 and had restrictions imposed in 2018.

AML / KYC

PBOC Fines Three FIs a Combined $20m for AML Rule Violations

By Editors | 10/01/2023

China Merchants Bank, China Merchants Bank, UnionPay, and 26 of their responsible persons were fined for a total 31 regulatory violations.

Market Infrastructure

BaFin Orders Deutsche Börse Entities to Remedy Deficiencies

By Editors | 10/01/2023

Business organisation and risk management deficiencies were identified at Eurex Clearing, Clearstream Banking and Clearstream Holding.

Crypto / Digital Assets

US SEC Probes Due Diligence Practices of FTX Investors

By Editors | 09/01/2023

Venture capital firms and investment funds that invested in FTX may face scrutiny about whether they met their fiduciary duties to their own investors.

Crypto / Digital Assets

NYAG Files Suit Against Founder of Crypto Lender Celsius

By Manesh Samtani | 08/01/2023

NYAG says Alex Mashinsky lied about Celsius’s safety, then lost customer funds in risky investments and concealed the firm’s deteriorating financial condition.

Enforcement

Singapore: Youth Pleads Guilty Over OCBC Phishing Scams

By Editors | 08/01/2023

The 19-year-old is the second Singaporean youth to plead guilty for helping an overseas syndicate launder the proceeds from phishing scams against OCBC customers.

Enforcement

Taiwan FSC Fines Cathay United Bank Again Over Outages

By Editors | 06/01/2023

The fine is the highest ever imposed against a bank by the FSC for IT-related issues. The bank’s president will also have his salary cut for three months.

Enforcement

Former BlackRock Portfolio Manager Fined Over Undisclosed Conflict

By Editors | 05/01/2023

The portfolio manager failed to disclose that he had asked an investee company to help advance his daughter’s acting career and that it helped her obtain a film role.