Financial Crime

Payments & Settlements

FMA Offers Regulatory Clarity for E-Money and Payments Firms

By Sanday Chongo Kabange | 14/02/2025

The FMA said there is “no specific licence” for e-money institutions or payments service providers in New Zealand but a range of regulatory obligations still apply.

Market Abuse

Japan Investigates Bank Employee for Insider Trading

By Thisanka Siripala | 14/02/2025

A former employee of Sumitomo Mitsui Trust Bank is suspected of making illegal profits from stock transactions based on non-public tender offer information.

Anti-Money Laundering

US Releases Convicted Former Operator of BTC-e in Prison Swap

By Editors | 14/02/2025

Alexander Vinnik was in US custody awaiting sentencing after pleading guilty last year for conspiracy to commit money laundering.

Fraud, Scams & Cybercrime

Australia Passes “World-leading” Scams Prevention Legislation

By Sanday Chongo Kabange | 13/02/2025

The law will introduce mandatory obligations for banks, telcos and social media platforms to prevent, detect and disrupt scams

Trade Based Money Laundering

ABS Launches Automated Bill of Lading Verification for Banks

By Nithya Subramanian | 13/02/2025

The tool, developed through a collaboration between the ABS Trade Finance Registry and SGTraDex, will help banks better tackle trade finance fraud.

Fraud, Scams & Cybercrime

Korea’s FSS Expands Probe Into IBK’s Fraudulent Loan Scheme

By Thisanka Siripala | 13/02/2025

Fraudulent loans worth KRW 60 billion have been identified, which is more than double the original estimate when the FSS launched its probe last month.

Cryptocurrency

US SEC Delays Outstanding Crypto Cases Pending Regulatory Clarity

By Mark Johnston | 13/02/2025

The US SEC agreed to pause court cases against Binance and Cumberland DRW while its new crypto task force formulates regulatory guidelines.

Anti-Bribery & Corruption

Transparency International: Global Corruption to Impact Climate Action

By Nithya Subramanian | 13/02/2025

Latest Corruption Perceptions Index results highlight that weak anti-corruption efforts threaten democracy, enable money laundering, and put climate funds at risk

Fraud, Scams & Cybercrime

US Court Orders ‘My Big Coin’ Founder to Pay $7.6m in Restitution

By Mark Johnston | 12/02/2025

Randall Crater, previously sentenced to serve over eight years in prison, is required to pay victims who were defrauded in the “My Big Coin” scheme.