Financial Crime

PEPs & Sanctions

Google Sues to Prevent Further Asset Seizures by Russia

By Editors | 28/08/2024

Court documents have revealed that Russia seized more than $100mn from Google’s Russian bank accounts in 2022.

Trade Based Money Laundering

Singapore Charges South Korean in S$1.5b TBML Scheme

By Ranamita Chakraborty | 28/08/2024

The accused hid smuggled cash in tool shipments from Korea and Japan, and then exported gold bars disguised as mechanical tools.

Conduct, Culture & Accountability

SC Malaysia Fines Grant Thornton and Audit Partner

By Nithya Subramanian | 28/08/2024

The Audit Oversight Board found a Grant Thornton audit partner was involved in the audit of a PIE for more than seven years.

Fraud, Scams & Cybercrime

Westpac to Expand Anti-Scam Feature to Institutional Clients

By Sanday Chongo Kabange | 28/08/2024

Westpac’s institutional and government clients will be able to run a check on payee details before making payments.

Fraud, Scams & Cybercrime

Crypto Founder Pleads Guilty for Defrauding Investor

By Editors | 28/08/2024

CluCoin founder Austin Michael Taylor used $1.14mn of investor funds at online casinos and “lost these investor funds to gambling”.

Supervision & Enforcement

CFTC Fines BNY Mellon for Swap Reporting Failures

By Editors | 27/08/2024

The CFTC said BNY failed to properly report transactions, supervise its swap dealer business, and monitor staff communications.

Custody & Infrastructure

Thai SEC Enhances Governance Standards for Crypto Firms

By Editors | 27/08/2024

Crypto firms must have at least five directors on their board, including two independent directors, and establish an audit committee.

Anti-Bribery & Corruption

Former Vitol Trader Pleads Guilty to Bribery Scheme

By Editors | 27/08/2024

Javier Aguilar and co-conspirators paid $600,000 in bribes in 2018 to two senior Mexican officials to win contracts for Vitol.

Fraud, Scams & Cybercrime

Australia Passes Legislation for SMS Sender ID Register

By Sanday Chongo Kabange | 27/08/2024

The register will allow telcos to block messages being sent under a brand name that don’t correspond with the legitimate sender.