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Financial Crime
PEPs & Sanctions
Switzerland Has Pursued 56 Cases Involving Russia Sanctions Violations
By Editors | 19/07/2024
Out of 56 administrative penal proceedings, 26 were dropped, 15 resulted in penalties, and the others remain under investigation.
Market Abuse
KRX Commences Work on Short Selling Monitoring System
By Sanday Chongo Kabange | 19/07/2024
KRX plans to recruit contractors early next month to work on the new monitoring system, which will launch by the end of March next year.
Supervision & Enforcement
Australia to Update Registration Framework for Tax Practitioners
By Editors | 18/07/2024
The registration framework is being updated to better protect consumers and ensure higher standards of professional conduct among tax practitioners.
Stablecoins
Hong Kong Publishes Results from Stablecoin Consultation
By Sanday Chongo Kabange | 18/07/2024
Based on feedback, the FSTB and HKMA will prepare a bill to implement a regulatory regime for stablecoins and submit it to LegCo later this year.
Fraud, Scams & Cybercrime
Australia Fines Telstra for Failure to Authenticate Customer IDs
By Editors | 18/07/2024
The ACMA said Telstra failed to use ID authentication processes for 168,000 high-risk customer interactions, such as SIM-swap requests and password resets.
Anti-Money Laundering
Taiwan Strengthens AML Requirements for Crypto Firms
By Nithya Subramanian | 18/07/2024
The amended law requires crypto platforms to establish local entities and complete a registration process to offer services in Taiwan.
PEPs & Sanctions
US Jails Man for Shipping Microelectronics to Russia via Hong Kong
By Editors | 17/07/2024
Russian national Maxim Marchenko procured dual-use military grade microelectronics for Russian end users using Hong Kong-based shell companies.
Fraud, Scams & Cybercrime
CFTC, FTX Reach Agreement on $12.7b Settlement
By Editors | 17/07/2024
The CFTC is only payable to the extent that funds are available after customer and creditor claims are settled.
PEPs & Sanctions
EU Sanctions Five Israeli Individuals and Three Entities
By Editors | 17/07/2024
The sanctions were imposed under the EU’s Global Human Rights Sanctions Regime for human rights abuses against Palestinians.
Anti-Money Laundering
MAS: FIs Should Conduct Enterprise-Wide ML/TF Risk Assessments
By Nithya Subramanian | 17/07/2024
The Singapore regulator has asked FIs to integrate insights from the recently published ML and TF national risk assessments.
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