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Financial Crime
Reporting & Disclosures
US SEC Has Disbanded Enforcement Division’s ESG Task Force
By Nithya Subramanian | 18/09/2024
The SEC shut down the task force following increasing anti-ESG backlash from companies, investors, state officials and courts.
PEPs & Sanctions
OFAC Sanctions More Members of Intellexa Spyware Consortium
By Editors | 18/09/2024
The sanctions target five individuals and an entity for their roles in developing, operating, and distributing commercial spyware technology marketed under the “Predator” brand.
Fraud, Scams & Cybercrime
Korea FSS Prepares to Penalise Six Securities Firms – Reports
By Nithya Subramanian | 18/09/2024
The securities firms allegedly used funds from new customers or their own capital to cover investment losses by institutional and corporate investors.
Supervision & Enforcement
US SEC Fines 12 Municipal Advisors for Record Keeping Violations
By Editors | 18/09/2024
The 12 firms agreed to pay combined penalties of more than $1.3mn for failures to preserve records of business communications using unofficial channels.
Fraud, Scams & Cybercrime
France Attempting to Use New Cybercrime Law Against Telegram Founder
By Editors | 18/09/2024
The LOPMI law, enacted in 2023 and as yet untested, is the first globally that gives a court the power to punish executives for abuse of the platforms they operate.
PEPs & Sanctions
US Sanctions Georgian Officials Over Human Rights Abuses
By Editors | 17/09/2024
OFAC sanctioned four individuals while the State Department announced visa restrictions on more than 60 others and their family members.
Fraud, Scams & Cybercrime
SFC Reaches Compensation Deal for Shareholders of Delisted Firm
By Sanday Chongo Kabange | 17/09/2024
If approved by the court, three former directors who siphoned money from a now-delisted company will pay HK$192mn in compensation to minority shareholders.
Anti-Money Laundering
China Consults on Revisions to Anti–Money Laundering Law
By Manesh Samtani | 17/09/2024
The revisions now include stronger protections for personal data and requirements for FIs to assess and manage risks arising from new technologies.
Anti-Money Laundering
Singapore: Enhanced AML Checks Are Impacting Client Onboarding
By Nithya Subramanian | 17/09/2024
Enhanced checks and controls for banks have started to delay onboarding, but they are expected to lead to a safer business environment.
Anti-Money Laundering
Singapore Charges Vietnamese-American for Laundering $8.3m
By Nithya Subramanian | 17/09/2024
The Singapore Police Force said investigations have found that the funds were likely derived from overseas investment scams.
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