ENFORCEMENT

Enforcement

ASIC Stands Firm Despite Mounting Criticisms of Failures

By Natasha Teja | 20/08/2024

An inquiry into ASIC’s capacity and capability identified a need for reforms, but these appear to be contingent on next year’s elections.

AML / KYC

China’s Top Court Issues Guidelines on Money Laundering Cases

By Manesh Samtani | 19/08/2024

Concealment or disguise of criminal proceeds, including through the use of virtual assets, will be punished as money laundering offences.

Enforcement

Korean Expands Probe into Unfair Practices in ETF Market

By Editors | 19/08/2024

The FSS is investigating whether asset managers had help from group affiliates to increase the net asset values of ETFs they issued.

AML / KYC

Hong Kong Court Sets Precedent for Crypto Transparency

By Manesh Samtani | 19/08/2024

The court ordered defendants in a crypto fraud and mismanagement case to provide detailed information about their holdings and transactions.

AML / KYC

Lithuania Intensifying Crackdown on Sanctions Evasion Activities

By Editors | 19/08/2024

Over 50 investigations relating to sanctions breaches have been opened in Lithuania. Rulings in several cases have already been issued.

AML / KYC

Singapore, HK and Interpol Dismantle Money Laundering Syndicate

By Nithya Subramanian | 19/08/2024

The transnational criminal group based in Hong Kong laundered proceeds from technical support scams in Singapore.

Enforcement

US SEC Fines ATS Operator OTC Link for AML Failings

By Editors | 18/08/2024

OTC Link did not file a single SAR over 38 months. Its AML department consisted of only two individuals who together spent just five hours per month reviewing trading alerts.

AML / KYC

Myanmar Charges Tycoon Over Use of Scam Centre Proceeds

By Editors | 18/08/2024

The former executive chair of privately owned Yoma Bank allegedly used criminal proceeds from online scam centres to invest in a real estate project.

Enforcement

US Man Arrested Over Attempts to Export Aircraft Components to Iran

By Editors | 17/08/2024

Jeffrey Chance Nader falsely identified himself to suppliers as the end user of the components, which he attempted to export to the UAE for transshipment to Iran.