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Financial Crime
Resolution & Recovery
Bangladesh Bank Forms Task Force on Banking Sector Reforms
By Ajoy K Das | 17/09/2024
The task force, led by BB governor Ahsan H Mansur, will assess current conditions in the banking sector and propose regulatory reforms.
Anti-Money Laundering
US OCC Imposes Restrictions on Wells Fargo for AML Deficiencies
By Editors | 17/09/2024
The OCC requires Wells Fargo to address deficiencies and seek prior written approval before launching new products or services or entering new geographies.
Anti-Money Laundering
India’s Adani Group Defends Against Allegations of Swiss Probe
By Ajoy K Das | 17/09/2024
Hindenburg Research says $310mn of Adani Group’s funds have been frozen in Switzerland in connection with a money laundering probe.
PEPs & Sanctions
EU Seeking Greater Certainty on Russia Sanctions Renewal Process
By Editors | 16/09/2024
The current process requires a unanimous vote from all EU member states every 6 months to renew the sanctions on Russia.
Fraud, Scams & Cybercrime
Singapore Probes Payment Delays at E-Commerce Platform
By Nithya Subramanian | 16/09/2024
After Qoo10 failed to pay merchants in South Korea, there are reports of payment delays also affecting small vendors in Singapore.
Fraud, Scams & Cybercrime
Indonesian Crypto Exchange Indodax Suffers DPRK Hack
By Nithya Subramanian | 16/09/2024
Indonesia’s largest crypto exchange is facing losses of up to $20mn from a hack allegedly perpetrated by a North Korea-affiliated actor.
PEPs & Sanctions
Australia Sanctions Five Iranians Over “Violent Repression” of Protests
By Editors | 16/09/2024
The sanctions mark the second anniversary of the death of Mahsa Jina Amini, who was arrested for “improperly” wearing her hijab and died in custody.
Fraud, Scams & Cybercrime
Australia Proposes Bill to Establish Scams Prevention Framework
By Sanday Chongo Kabange | 16/09/2024
The framework creates obligations for banks, telcos and tech giants to prevent, detect, report, disrupt, and respond to scams.
PEPs & Sanctions
US Issues New Sanctions Targeting Russian Influence Operations
By Editors | 16/09/2024
The new sanctions target media group Rossiya Segodnya and others connected to Russian state media RT and its “malign influence efforts”.
Cryptocurrency
US SEC Fines eToro $1.5m for Not Registering Crypto Services
By Nithya Subramanian | 16/09/2024
As part of the settlement, eToro is required to delist 102 crypto tokens, leaving only Bitcoin, Bitcoin Cash, and Ether available to investors.
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