Financial Crime

Anti-Money Laundering

Swedish Court Sentences Former Swedbank CEO to Jail Term

By Nithya Subramanian | 13/09/2024

Birgitte Bonnesen was sentenced to 15 months in prison for providing misleading information about Swedbank’s money laundering issues in Estonia.

Cybersecurity

TWSE Suffers Russian DDoS Attack, But Recovers Quickly

By Editors | 13/09/2024

A pro-Russia hacker group targeted TWSE and other Taiwanese institutions with DDoS attacks in response to comments from President Lai Ching-de.

Payments & Settlements

Japan Backs FSB Plan to Streamline Cross-border Payments

By Thisanka Siripala | 12/09/2024

However, the Japanese Bankers Association is calling for incentives to help boost the adoption of LEIs, which are currently costly and complex to implement.

KYC & CDD

GCFFC Calls for Better Access to Global Beneficial Ownership Data

By Manesh Samtani | 12/09/2024

In a new report, the GCFFC outlines key considerations for building technological systems to standardise the collection and publication of BO data across jurisdictions.

Fraud, Scams & Cybercrime

Singapore Court Jails Crypto Firm Director for Ponzi Scheme

By Nithya Subramanian | 12/09/2024

Chen Wei, Director of A&A Blockchain Technology Innovation, has been sentenced to four years in prison for deceiving over 700 investors.

PEPs & Sanctions

OFAC Sanctions Hezbollah Oil and LPG Smuggling Network

By Editors | 12/09/2024

The sanctions target a senior Hezbollah finance team official, two Lebanese businessmen and companies they operate, along with a shipping company and two vessels.

PEPs & Sanctions

US Says China Providing Direct Support to Russian Military

By Editors | 12/09/2024

US Deputy Secretary of State Kurt Campbell said China is supplying items that are directly helping Russia’s military effort in Ukraine.

Fraud, Scams & Cybercrime

Singapore to Issue First Charges Under New Anti-Scam Laws

By Nithya Subramanian | 12/09/2024

Around 40 individuals will be charged with new offences under the CDSA and CMA for selling their bank accounts and Singpass credentials.

Fraud, Scams & Cybercrime

UK FCA to Update Guidance on Addressing Suspicious Payments

By Manesh Samtani | 12/09/2024

The updated guidance aims to support a new policy that will enable PSPs to delay payments when fraud or dishonesty is suspected.