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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.
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.
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.
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
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.
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
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.
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.
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.
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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