Financial Crime

PEPs & Sanctions

Major Chinese Banks Are Offloading Russia Assets – Report

By Editors | 09/09/2024

Russia’s banks have also reportedly run out of yuan, largely because Chinese financial firms have stopped doing business with the country.

Conduct, Culture & Accountability

HKMA Suspends Ex-Hang Seng Bank Employee for Dishonest Conduct

By Sanday Chongo Kabange | 09/09/2024

The HKMA suspended a former Hang Seng Bank relevant individual for fabricating a client’s signature on a time deposit application form.

Anti-Money Laundering

Singapore Charges 6 for Illegal Cross-Border Money Transfers

By Nithya Subramanian | 09/09/2024

The individuals provided unlicensed cross-border money transfer services to China, Myanmar, Bangladesh, Indonesia, and Sri Lanka.

PEPs & Sanctions

US Issues Sanctions Targeting Russia’s Arctic LNG 2 Project

By Editors | 08/09/2024

Two Indian companies were sanctioned for owning and managing a vessel that engaged in “deceptive shipping practices”.

Fraud, Scams & Cybercrime

Korea Forms Task Force to Enhance Bank Lending Standards

By Editors | 08/09/2024

The FSS plans to require verification of loan documents, improve the process for verifying collateral value, and enhance post-loan monitoring standards.

PEPs & Sanctions

DOJ Charges Russian TV Presenter With Violating US Sanctions

By Editors | 08/09/2024

The television presenter and producer for Russia’s state-owned Channel One, along with his wife, were charged for sanctions violations and money laundering.

PEPs & Sanctions

Russian Business With India is ‘Booming’, Says Sberbank Exec – Report

By Editors | 06/09/2024

Sberbank executive said Russia is able to import anything it needs from India, with most transactions only taking a few hours to complete.

Supervision & Enforcement

German Court Orders Former Wirecard Execs to Pay Damages

By Editors | 06/09/2024

The court found that three executives should be held personally liable for granting €100mn in loans without due diligence or collateral.

Fraud, Scams & Cybercrime

UK Proposes to Lower Limit for APP Fraud Reimbursements

By Nithya Subramanian | 06/09/2024

The PSR has proposed to revise its December 2023 plan to reduce the reimbursement limit from GBP 415,000 to GBP 85,000.