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Financial Crime
PEPs & Sanctions
OFAC Fines German Firm for Conspiracy to Violate Iran Sanctions
By Editors | 04/12/2024
OFAC said Aiotec GmbH conspired over four years to cause a US company to buy and ship an entire polypropylene plant from Australia to Iran.
Fraud, Scams & Cybercrime
Mitsubishi Reports $90m Loss from Rogue Copper Trader at China Unit
By Nithya Subramanian | 04/12/2024
Mitsubishi Corp said that a Shanghai-based trader made unauthorised transactions with local businesses that defaulted on their payments.
Trading & Investment
Thai Stock Exchange Unveils New Three-year Strategic Roadmap
By Editors | 04/12/2024
The roadmap includes a value-creation platform for listed companies, extended trading hours for certain products, and a platform enabling retail access to government bonds.
Anti-Bribery & Corruption
Fugitive Singaporean Tycoon Nabbed After Absconding for 19 Years
By Nithya Subramanian | 04/12/2024
The tycoon and his wife were arrested in Malaysia after allegedly embezzling over $51mn and fleeing Singapore in 2005.
Fraud, Scams & Cybercrime
FBI Issues Alert on Use of GenAI for Sophisticated Scams
By Thisanka Siripala | 04/12/2024
The alert includes specific examples of how criminals are exploiting GenAI in fraud schemes to raise public awareness and encourage vigilance
Fraud, Scams & Cybercrime
Malaysia Proposes Stricter Laws to Target Harm from Online Content
By Nithya Subramanian | 04/12/2024
The proposed amendments aim to curb objectionable online content to curb scams, online gambling, bullying and pornography.
Fraud, Scams & Cybercrime
Former CEO of Celsius Network Pleads Guilty on Fraud Charges
By Editors | 04/12/2024
Alex Mashinsky misled investors about the financial condition of Celsius and used customer funds to manipulate the value of a digital token the company issued.
PEPs & Sanctions
US Sanctions 14 Entities, 21 ‘Shadow Fleet’ Vessels Used by Iran
By Editors | 04/12/2024
The vessels targeted mostly have Panama or Cook Islands flags. The entities targeted are based in China, India, Hong Kong, and six other countries.
Fraud, Scams & Cybercrime
HKMA Announces Two New Anti-Scam Measures for Banks
By Sanday Chongo Kabange | 04/12/2024
“Money Safe” will allow customers to segregate a portion of their deposits and protect it from fund outflows, similar to Singapore’s “Money Lock”.
PEPs & Sanctions
OFAC Announces Magnitsky Sanctions Targeting Former Uzbekistan Officials
By Editors | 04/12/2024
The three former officials were involved in human trafficking and physical and sexual violence against children at a state-run orphanage.
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