Financial Crime

Fraud, Scams & Cybercrime

AFCA Calls on Super Funds to Adopt Anti-Scam Measures

By Editors | 15/08/2024

AFCA’s Heather Gray said more sophisticated scam activity is occurring in superannuation, in line with trends in the banking sector.

Supervision & Enforcement

US Treasury Offers Additional Transparency on CFIUS Enforcements

By Editors | 15/08/2024

More information is now available about CFIUS enforcement actions imposed since 2022, the largest being a $60m penalty against T-Mobile.

Fraud, Scams & Cybercrime

Global Cybercrime Leader Extradited to Face Charges in the US

By Manesh Samtani | 15/08/2024

Maksim Silnikau was responsible for developing and distributing the Reveton and Ransom Cartel ransomware strains, as well as the Angler Exploit Kit.

Supervision & Enforcement

US SEC, CFTC Announce $470m in New Fines in WhatsApp Probe

By Manesh Samtani | 15/08/2024

Since 2021, the SEC and CFTC have issued more than $3.3bn in penalties for record-keeping failures involving messaging platforms.

Anti-Money Laundering

Singapore Charges Ex-Bankers in Money Laundering Case

By Nithya Subramanian | 15/08/2024

Former Citibank and Julius Baer relationship managers are accused of forging documents, money laundering and obstructing justice.

Stablecoins

Three Arrows Capital Sues Terraform Labs for Crypto Losses

By Editors | 14/08/2024

Liquidators for the failed crypto hedge fund say TerraForm Labs induced Three Arrows to purchase TerraUSD and Luna through market manipulation.

Conduct, Culture & Accountability

APRA Orders Independent Review of Cbus, BUSSQ Governance

By Sanday Chongo Kabange | 14/08/2024

APRA imposed additional licence conditions to address concerns regarding fitness and propriety processes and fund expenditure management.

PEPs & Sanctions

US to Remove Chinese Laser Sensor Maker from Blacklist

By Editors | 14/08/2024

The Department of Defence has reportedly decided to remove Hesai Technology Co Ltd from its blacklist of Chinese military-affiliated companies.

KYC & CDD

BSP Mandates Acceptance and Verification of Digital IDs

By Ranamita Chakraborty | 14/08/2024

Financial institutions in the Philippines must now accept all national ID formats, including digital IDs, after verifying its authenticity.