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Financial Crime
Market Abuse
SEBI Denies Allegations of Conflict of Interest in Adani Probe
By Ajoy K Das | 14/08/2024
Hindenburg Research said SEBI has slow-walked a probe into the Adani Group because of its links to the regulator’s chairperson.
PEPs & Sanctions
USD, EUR Banknotes Being Shipped to Russia Despite Sanctions – Report
By Editors | 14/08/2024
Russia has managed to circumvent sanctions blocking cash imports by arranging transport from countries including the UAE and Turkey.
PEPs & Sanctions
Bulgarian Man Extradited to US Over Illegal Exports to Russia
By Editors | 14/08/2024
Milan Dimitrov conspired with two others to use a Bulgarian company to receive export-controlled items from the US and transship them to Russia.
Supervision & Enforcement
Korea FSS Issues Warning to Hanwha Investment & Securities
By Nithya Subramanian | 13/08/2024
Hanwha Investment & Securities allegedly concealed the findings of a 2018 internal audit that found forged balance statements.
Fraud, Scams & Cybercrime
Korea: Woori Facing Disciplinary Action Over Improper Loans
By Mark Johnston | 13/08/2024
The FSS said Woori improperly disbursed 28 loans worth a combined KRW 35 billion to Chairman Sohn Tae-Seung’s relatives and their companies.
Anti-Money Laundering
Mekong Club Calls on FIs to Bolster Efforts Against Modern Slavery
By Nithya Subramanian | 13/08/2024
Mekong Club published a new report offering recommendations, typologies and indicators to help FIs address modern slavery risks.
Data Privacy
RBI Proposes to Introduce Public Repository for Digital Lending Apps
By Ajoy K Das | 13/08/2024
The repository will serve as a comprehensive list of digital lending apps that are operated by RBI regulated entities such as banks and NBFCs.
Supervision & Enforcement
Beijing Prosecutors Charge 49 Former Zhongzhi Employees
By Editors | 13/08/2024
The wealth management firm filed for bankruptcy liquidation in January after declaring it was insolvent with up to $64bn in liabilities.
PEPs & Sanctions
FATF Calls on India to Enhance Scrutiny of Domestic PEPs – Report
By Ajoy K Das | 12/08/2024
The FATF calls for tighter account opening scrutiny for domestic PEPs and their families, and more rigorous monitoring of their bank accounts.
Anti-Bribery & Corruption
US Court Convicts Former Mozambique Official in Bribery Case
By Editors | 12/08/2024
Following a four-week trial in New York, Mozambique’s former finance minister was found guilty for accepting $7mn in bribes.
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