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Financial Crime
PEPs & Sanctions
OFAC Sanctions Two for Funnelling Illicit Proceeds to North Korea
By Editors | 18/12/2024
The two individuals are part of a network led by Sim Hyon Sop, a sanctioned China-based banking representative who helps North Korea launder money.
Alternative Markets
FCA Proposes Rules for New Stock Market for Private Companies
By Editors | 18/12/2024
PISCES will allow private and other unquoted UK and overseas companies to trade their securities during intermittent trading windows.
Fraud, Scams & Cybercrime
Japan FSA Orders MUFG to File Report on Safe Deposit Box Thefts
By Sanday Chongo Kabange | 18/12/2024
The FSA ordered MUFG Bank to submit a report on the theft of customer assets from 60 safe deposit boxes by a former employee.
PEPs & Sanctions
UK Imposes Sanctions on 20 More Russian Shadow Fleet Vessels
By Editors | 18/12/2024
Shadow fleet ships are left “idling uselessly outside ports, which is costing Putin and his war effort millions in wasted funds,” the UK said.
PEPs & Sanctions
OFAC Sanctions 20 Targets Linked to Global Drug Trafficking
By Editors | 18/12/2024
The sanctions targets, located across seven countries, include Australian David Thackray and New Zealander Ho Kai Leung.
Cryptocurrency
FCA Proposes New Rules to Prevent Abuse in Crypto Markets
By Mark Johnston | 17/12/2024
CATPs will have to establish robust due diligence processes for new listings, produce disclosure documents, and implement market abuse related systems and controls.
Anti-Money Laundering
AUSTRAC Sues Online Betting Site Operator Entain for AML Breaches
By Sanday Chongo Kabange | 17/12/2024
AUSTRAC CEO said the failures in Entain’s approach to its AML/CTF obligations were “systemic” and “left the company at serious risk of criminal exploitation”
PEPs & Sanctions
US Issues New Sanctions Targeting Military Support to DPRK
By Editors | 17/12/2024
The sanctions targets include banks, financial representatives, generals, officials and foreign trade companies involved in Russia-DPRK oil trade.
PEPs & Sanctions
EU Announces First Sanctions Under New ‘Hybrid Threats’ Regime
By Editors | 17/12/2024
The sanctions are in response to “Russia’s malicious actions and its lack of respect for a rules-based international order and international law”.
Market Abuse
JPX Penalises Nomura Over JGB Futures Manipulation Case
By Sanday Chongo Kabange | 17/12/2024
OSE has imposed a fine and a threeday JGB futures trading suspension on Nomura Securities while the TSE issued a reprimand.
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