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Financial Crime
PEPs & Sanctions
EU Council Adopts 15th Sanctions Package Against Russia
By Editors | 17/12/2024
The package targets 52 ‘shadow fleet’ vessels and for the first time adds Chinese entities and individuals to the EU sanctions register.
Data Privacy
Singapore Plan to Unmask NRIC Numbers Raises Privacy Concerns
By Manesh Samtani | 17/12/2024
Singapore’s government says NRIC numbers will be made public and should be used the same way people use their names.
Anti-Money Laundering
Malaysia Advances Bill to Amend Trustee Act for AML/CFT
By Editors | 17/12/2024
The amendments will impose AML/CFT obligations on trustees, including requirements to maintain records on beneficial ownership.
Anti-Money Laundering
AUSTRAC Sets AML/CTF Improvement Priorities for Reporting Entities
By Sanday Chongo Kabange | 17/12/2024
AUSTRAC said wider board involvement is needed on ML/TF matters and firms should use tailored rules and triggers to prioritise high-risk investigations.
Market Abuse
US SEC Fines Cantor Fitzgerald Over Misleading SPAC Disclosures
By Editors | 16/12/2024
Cantor Fitzgerald failed to disclose that it had already commenced negotiations with merger targets for two SPACs prior to their IPOs.
Fraud, Scams & Cybercrime
ASIC Sues HSBC for Failing to Protect Customers from Scams
By Sanday Chongo Kabange | 16/12/2024
ASIC says HSBC contravened the Corporations Act and Credit Act and caused customers to lose A$23mn from unauthorised payments.
PEPs & Sanctions
US Sanctions Eight Firms for Enabling Human Rights Violations
By Editors | 16/12/2024
Commerce Dept said two Chinese targets enabled human rights violations and four others supplied parts and components to Myanmar’s military.
PEPs & Sanctions
EU to Issues First Sanctions Targeting Russian Disinformation
By Editors | 16/12/2024
The sanctions are part of a new regime that focuses on disinformation operations and other Russian-sponsored destabilising activities globally.
PEPs & Sanctions
Russia’s Rosneft, India’s Reliance Agree $13b Crude Oil Deal
By Editors | 16/12/2024
The EU has been separately calling on Indian authorities to stop the illicit flow of Common High Priority Items to Russia.
Fraud, Scams & Cybercrime
Scam Loss Sharing Framework Takes Effect in Singapore
By Manesh Samtani | 16/12/2024
The framework requires FIs and telcos to pay compensation to victims of phishing scams if they breach certain scam prevention duties.
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