Enforcement

Enforcement

Japan FSA Identifies Two More Safe Deposit Box Thefts

By Editors | 30/12/2024

There are now three cases of employees embezzling customer assets from safe deposit boxes at financial institutions.

Sanctions

US Commerce Dept Fines Materials Supplier for Exports to Russia

By Editors | 29/12/2024

Indium shipped solder materials used in electronics manufacturing to Russia on 11 occasions between April 2022 and March 2023

AML / KYC

OCC Issues Order Requiring BofA to Fix AML Deficiencies

By Editors | 28/12/2024

The order requires BofA to obtain OCC approval to launch new products or services that present high money laundering or sanctions risk.

Enforcement

1MDB Files Suit Against Corporate Service Provider Amicorp

By Editors | 28/12/2024

1MDB alleges HK-headquartered Amicorp used shell companies and fraudulent financial structures to facilitate the misappropriation of assets.

Enforcement

SFC Imposes Fine and Lifetime Ban Against Fund Manager

By Editors | 28/12/2024

The SFC said the former fund manager’s removal from the industry is “necessary to protect the investing public”.

AML / KYC

Japan FSA Orders AEON Bank to Improve AML/CFT Systems

By Manesh Samtani | 27/12/2024

The FSA said AEON Bank neglected at least 14,639 transactions detected by its surveillance system and takes too long to report suspicious transactions

Enforcement

AFRC Fines BDO and Two Partners for Audit Failures

By Editors | 27/12/2024

The AFRC said BDO’s history of non-compliance suggests a “tendency of repeated failures to comply with auditing and professional standards”.

Enforcement

Australia Court Rules Against CFD Firms in Landmark Ruling

By Editors | 26/12/2024

The Court for the first time found that a licensee breached the law by offering services to customers outside of the country.

AML / KYC

UN General Assembly Adopts New Cybercrime Convention

By Manesh Samtani | 26/12/2024

The Convention will help to address online child sexual abuse, sophisticated online scams and money laundering