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Financial Crime
PEPs & Sanctions
Hong Kong Has Become a Money Laundering Hub, US Lawmakers Say
By Editors | 27/11/2024
US lawmakers are calling for a re-evaluation of the treatment of Hong Kong banks, saying the city has become a hub for money laundering and sanctions evasion.
PEPs & Sanctions
UK Targets Russian Shadow Fleet With New Sanctions Package
By Editors | 27/11/2024
The UK sanctioned 30 ships in Russia’s shadow fleet and 2 insurance companies for enabling them to generate oil revenues.
PEPs & Sanctions
Japan Preparing to Ramp Up Sanctions on North Korea, Russia
By Editors | 26/11/2024
Officials are said to be particularly concerned about North Korean troop deployments to Russia and the implications for peace and security in the region.
Supervision & Enforcement
UK FCA Fines Barclays £40m Over 2008 Disclosure Failures
By Mark Johnston | 26/11/2024
The FCA said Barclays failed to disclose payments to Qatari entities that helped rescue the bank during the 2008 financial crisis.
Conduct, Culture & Accountability
Malaysia: FIMM Reprimands Former Consultants for Misconduct
By Nithya Subramanian | 26/11/2024
The three individuals were found guilty of fabricating pay slips, forging signatures, and neglecting the best interests of investors.
PEPs & Sanctions
HSBC Stops Processing All Payments Involving Russia, Belarus
By Editors | 26/11/2024
Payments involving Russia or Belarus may be held for further review and rejected. Customers are advised to “make alternative arrangements” for such transactions.
Fraud, Scams & Cybercrime
MUFG Bank Faces Fallout Over Theft by Former Employee
By Thisanka Siripala | 26/11/2024
Over four and a half years, a manager opened the safety deposit boxes of approximately 60 people and stole their assets.
Supervision & Enforcement
FSC Korea Implements Plan to Reduce Foreign Exchange Violations
By Mark Johnston | 26/11/2024
The FSC has launched a plan to reduce foreign exchange violations to minimise penalties for financial consumers.
Anti-Money Laundering
UK Government Pushes for Public Beneficial Ownership Registers
By Mark Johnston | 26/11/2024
The UK government has reaffirmed its commitment to establishing fully public beneficial ownership registers.
Anti-Money Laundering
Eurojust Establishes Judicial Focus Group to Combat Money Laundering
By Mark Johnston | 26/11/2024
Eurojust has launched a Judicial Focus Group to strengthen efforts against money laundering and improve asset recovery across the European Union.
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