Financial Crime

Fraud, Scams & Cybercrime

US SEC Sets Up Interagency Securities Council to Combat Fraud

By Nithya Subramanian | 22/07/2024

The objective of the new council is to strengthen collaboration between federal, state, and local agencies to protect investors from fraud.

Anti-Money Laundering

Singapore Says Jho Low Red Notice Remains in Effect

By Nithya Subramanian | 22/07/2024

Jho Low’s civil settlement with the US DOJ has “no bearing” on criminal investigations against him and his associates in Singapore.

PEPs & Sanctions

UK Imposes Sanctions on 11 Russian ‘Shadow Fleet’ Vessels

By Editors | 21/07/2024

The measures are part of a joint “Call to Action” with European countries to disrupt the ‘shadow fleet’ of vessels Russia uses to circumvent oil sanctions.

Anti-Money Laundering

FATF Upgrades New Zealand on Five Recommendations

By Editors | 21/07/2024

Revised AML/CFT regulations adopted in June 2023 addressed most deficiencies in recommendations 14, 16, 18, 22 and 23.

Anti-Money Laundering

US Banking Regulators Propose to Update AML Requirements

By Editors | 21/07/2024

The Federal Reserve, FDIC, NCUA, and OCC said the amendments are intended to align with changes recently proposed by FinCEN.

Fraud, Scams & Cybercrime

OFAC Sanctions Two Members of the ‘Cyber Army of Russia’

By Editors | 21/07/2024

Two Russian nationals separately pleaded guilty to participating in LockBit ransomware attacks, the DOJ announced separately.

Anti-Money Laundering

Thai Banks Urged to Tighten Scrutiny of Myanmar Transactions

By Editors | 20/07/2024

Thai Foreign Minister told parliament that the government will meet with banks regarding their due diligence processes for Myanmar transactions.

PEPs & Sanctions

OFAC Announces More Sanctions Targeting Houthi Funding

By Editors | 20/07/2024

The targets include individuals and companies based in Indonesia, Malaysia, Singapore, China, and the UAE, along with five vessels.

Market Abuse

Ex-Goldman, Blackstone Analyst Sentenced for Insider Trading

By Editors | 19/07/2024

The former analyst passed MNPI to a friend and a family member who made a combined $400,000 in illegal profits.