Financial Crime

Anti-Money Laundering

US DOJ Secures Guilty Plea from Crypto Exec for AML Failures

By Editors | 11/07/2024

Paxful co-founder Artur Schaback pleaded guilty for willfully failing to establish, develop, implement, and maintain an effective AML programme.

Anti-Money Laundering

FATF Calls for Urgent Action to Regulate Gatekeeper Professions

By Manesh Samtani | 11/07/2024

Australia, China, the US, and South Korea scored the lowest on compliance with the FATF’s corruption prevention standards.

Market Abuse

Japan SESC Probing MUFG Employee for Insider Trading

By Editors | 10/07/2024

The employee is suspected of divulging nonpublic information to a family member who profited from trading based on the information.

Operational Risk

Bangladesh Bank Issues External Auditor Rules for Banks

By Ajoy K Das | 10/07/2024

The central bank has stipulated that an external auditor appointed by a bank cannot audit the same bank for more than three consecutive years.

Cryptocurrency

Korean Regulators Outline Approach to Crypto Investigations

By Manesh Samtani | 10/07/2024

The new investigation system will be immediately activated on 19 July, when the new Virtual Asset User Protection Act takes effect.

Market Abuse

Korea Approves New Disclosure Rule for Insider Transactions

By Editors | 10/07/2024

Listed companies will be required to disclose insider transactions 30 days prior to their planned transaction dates, starting from 24 July.

PEPs & Sanctions

Switzerland Expands Sanctions Against Russia

By Editors | 10/07/2024

The targets align with the EU’s 14th package, but measures targeting the energy, financial and goods sectors are still being examined.

Anti-Money Laundering

Singapore to Develop Standards for SoW Checks by Banks

By Editors | 10/07/2024

MAS has reportedly formed a group that will work to develop standards for account opening and source of wealth checks by year-end.

Fraud, Scams & Cybercrime

Australia Issues Warning Against Money Recovery Scams

By Sanday Chongo Kabange | 10/07/2024

The National Anti-Scam Centre says ongoing scam losses highlight the need to introduce mandatory industry codes as soon as possible.