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Financial Crime
Fraud, Scams & Cybercrime
Korea Extradites Russian National to US to Face Cybercrime Charges
By Editors | 21/11/2024
Evgenii Ptitsyn and co-conspirators developed and offered access to Phobos ransomware to enable others to encrypt victims’ data and extort ransom payments from them.
PEPs & Sanctions
UK Announces Sanctions Over Indoctrination of Ukrainian Children
By Editors | 21/11/2024
The FCDO said around 6,000 Ukrainian children have been relocated to a network of re-education camps where they are subjected to indoctrination.
Market Abuse
US Court Sentences Archegos Founder to 18 Years in Jail
By Nithya Subramanian | 21/11/2024
Bill Hwang caused over $100bn in shareholder losses at companies in Archegos’ portfolio and $10bn in losses at banks that lent to the firm.
PEPs & Sanctions
OFAC Fines Individual $1.1m for Violating Iran Sanctions
By Editors | 21/11/2024
The violations related to the individual’s use of an IVTS to remit funds to Iran to purchase, renovate, and operate a hotel.
Anti-Bribery & Corruption
US Authorities Charge Billionaire Gautam Adani for Bribery, Fraud
By Nithya Subramanian | 21/11/2024
The SEC also filed a complaint saying Adani induced US investors to buy $175mn in bonds by misrepresenting an aversion to paying bribes.
Anti-Money Laundering
US Court Jails Operator of Darknet Cryptocurrency Mixer ‘Helix’
By Nithya Subramanian | 21/11/2024
Helix was popular among online drug dealers to launder their illicit proceeds, processing $300m in cryptocurrency transactions between 2014 and 2017.
Supervision & Enforcement
US Finalises Rule to Expand Enforcement Authorities of CFIUS
By Editors | 20/11/2024
The final rule increases penalties for violations and expands the types of information CFIUS can demand from transacting parties and third parties.
PEPs & Sanctions
EU, UK Target Iran Shipping, Aviation With New Sanctions
By Manesh Samtani | 20/11/2024
The sanctions aim to curb Iran’s ability to facilitate drone, missile, and military technology transfers to aid Russia in its war in Ukraine.
Market Abuse
Korea FSS to End Short-Selling Investigation by Year-End
By Nithya Subramanian | 20/11/2024
FSS Governor Lee Bok-hyun told Hong Kong institutional investors that the investigation into illegal short selling will be complete by year-end.
Fraud, Scams & Cybercrime
CSRC Takes Over Futures Firm for “Out-of-control Management”
By Editors | 20/11/2024
Hehe Futures Co Ltd is controlled by Lin Qiang, a fugitive tycoon who was arrested in Indonesia last month after fleeing China in August 2023.
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