Financial Crime

Anti-Money Laundering

UK Jails Members of Chinese Money Laundering Group

By Editors | 31/08/2024

A 12-year jail sentence was handed to the head of the group, which sold British pounds to UK university students to circumvent China’s foreign currency controls.

Fraud, Scams & Cybercrime

India Proposes Measures to Combat Spam Calls & SMS

By Ajoy K Das | 31/08/2024

Complaints have surged about unregistered telemarketers, including those using auto-dialers or robo-calls for unsolited commercial communications.

Cryptocurrency

New Zealand to Implement Global Tax Reporting Framework for Crypto

By Jaya Prakash Balakrishnan | 31/08/2024

New Zealand crypto firms will start reporting user and transaction data to the Inland Revenue Department by 30 June 2027.

Supervision & Enforcement

CFTC Penalises Nasdaq Futures Over False Disclosures

By Editors | 30/08/2024

Nasdaq Futures, which operated an energy commodity futures market from 2015-2018, did not fully disclose details of an incentive programme.

Anti-Money Laundering

Singapore Designates Wildlife Trade as Serious Criminal Offences

By Nithya Subramanian | 30/08/2024

Wildlife trading will now be punishable in Singapore under the Organised Crime Act with up to 20 years imprisonment.

Market Abuse

CFTC Fines Swiss Energy Trader $48m for Market Manipulation

By Nithya Subramanian | 30/08/2024

TOTSA TotalEnergies Trading sold physical EBOB at below-market prices to benefit its large short position in the futures market.

Fraud, Scams & Cybercrime

Australian Court Sentences Financial Adviser to 12 Years Jail

By Editors | 30/08/2024

Ben Jayaweera dishonestly obtained money from clients for investments and then transferred the funds to his own accounts.

Cryptocurrency

BCBS Paper Warns of Risks in Permissionless DLT Systems

By Manesh Samtani | 30/08/2024

New working paper describes the risks associated with permissionless DLT, highlighting the need for banks to adopt robust risk management strategies.

Anti-Money Laundering

FinCEN Finalises AML Rules for Investment Advisers, Real Estate

By Manesh Samtani | 30/08/2024

Based on feedback to the February proposals, the final rules walk back certain measures to reduce potential burdens on businesses.