ENFORCEMENT

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    Enforcement

    NYDFS Fines PayPal $2m for Cybersecurity Failures

    By Nithya Subramanian | 28/01/2025

    NYDFS said teams tasked with implementing changes to existing data flows were not properly trained, resulting in customer data being accessible to cybercriminals.

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    Enforcement

    Australian Court Orders Firstmac to Pay A$8m for DDO Breaches

    By Thisanka Siripala | 28/01/2025

    The court said Firstmac was “objectively reckless”. This is the first civil penalty action against a distributor involving DDO breaches.

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    Sanctions

    Russia Proposes Jail for Disclosure of Sanctions Circumvention Methods

    By Editors | 27/01/2025

    The draft law reportedly points to websites that disseminate leaked customs data and information in the media about logistics schemes for delivering sanctioned goods.

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    Crypto / Digital Assets

    US Authorities Secure Settlement With Crypto Market Maker

    By Nithya Subramanian | 24/01/2025

    CLS Global admitted to providing market-making services for NexFundAI, a token created by the FBI to help it uncover crime

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    Enforcement

    Another US Court Rules Tornado Cash Sanctions Were Unlawful

    By Editors | 23/01/2025

    Court ruled that Tornado Cash smart contracts could not be classified as property IEEPA. A similar ruling was issued by a different court in November 2024.

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    Crypto / Digital Assets

    Korean Regulators Refer Crypto Manipulation Case for Prosecution

    By Mark Johnston | 23/01/2025

    The case is the first processed in accordance with the official investigation procedures set by the new Virtual Asset User Protection Act

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    AML / KYC

    Singapore Court Charges Ex-Filing Agent in $3b Money Laundering Case

    By Nithya Subramanian | 23/01/2025

    Former CSP director charged for falsifying company accounts, making false representations to authorities, and forging documents to cheat FIs.

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    Enforcement

    ASIC Probing ANZ for Underpaid Interest, Hardship Provisions

    By Editors | 23/01/2025

    ASIC reportedly investigating allegations that ANZ miscalculated interest on thousands of customer savings accounts.

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    Enforcement

    US SEC Imposes Penalties on Digital Currency Group and Former CEO

    By Mark Johnston | 22/01/2025

    DCG and its former CEO will pay a total $38.5mn for misleading investors about the financial health of Genesis Global Capital.

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    Enforcement

    NYAG Secures $1b Settlement Against ‘Predatory Lender’

    By Nithya Subramanian | 22/01/2025

    Yellowstone Capital exploited small businesses with fraudulent loans carrying illegal interest rates as high as 820% annually.

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