Financial Crime

PEPs & Sanctions

US Agencies Probe AML Policies and Systems at Citi – Reports

By Editors | 20/11/2024

The probe centres on Citigroup’s work for Heritage Trust, which holds assets owned by a sanctioned Russian billionaire.

Conduct, Culture & Accountability

IOSCO Unveils Roadmap to Enhance Retail Investor Online Safety

By Mark Johnston | 20/11/2024

IOSCO released three consultation reports as part of the first wave of the roadmap to retail investor online safety.

Anti-Bribery & Corruption

US Authorities Penalise BIT Mining Over Japan Bribery Scheme

By Mark Johnston | 20/11/2024

The bribery scheme was aimed at influencing Japanese officials in an attempt to establish an integrated resort casino in Japan.

Operational Risk

APRA Ends Probe into HESTA Super Fund Valuation Decisions

By Mark Johnston | 20/11/2024

HESTA agreed to make payments to members affected by valuation decisions made during the early days of the Covid-19 pandemic.

Anti-Money Laundering

Singapore: $1.4b from Overseas Suspects Surrendered to State

By Nithya Subramanian | 20/11/2024

Police said 15 of 17 suspected money launderers who fled Singapore agreed to surrender assets to end the cases against them.

Supervision & Enforcement

ASIC Sets Out Enforcement Priorities for 2025

By Sanday Chongo Kabange | 20/11/2024

ASIC’s enforcement priorities reflect the increased risks consumers are facing that are being driven by cost of living pressures.

PEPs & Sanctions

OFAC Sanctions Israeli Group Over West Bank Violence

By Editors | 20/11/2024

Amana is the largest entity targeted with US sanctions for violence in the occupied West Bank by Israeli settlers.

Fraud, Scams & Cybercrime

Singapore Court Sentences Hin Leong Founder to 17.5 Years Jail

By Nithya Subramanian | 19/11/2024

OK Lim was sentenced for defrauding HSBC and instigating forgery. The court said his actions severely damaged Singapore’s reputation.

AI Risk & Governance

FSB Flags Growing Risks of AI Adoption in Financial Services

By Thisanka Siripala | 19/11/2024

New FSB report identifies AI-related vulnerabilities in the financial sector that can potentially increase systemic risk.