Financial Crime

PEPs & Sanctions

HSBC Completes Sale of Russian Unit to Expobank

By Editors | 30/05/2024

The deal received approval in February but it has taken until now for the sale to be successfully concluded.

Anti-Money Laundering

AUSTRAC Accepts Enforceable Undertaking from Sportsbet

By Sanday Chongo Kabange | 30/05/2024

The undertaking binds the online betting company to an ongoing remedial action plan to improve its AML/CTF programme.

Anti-Money Laundering

Singapore Publishes Environmental Crimes ML Risk Assessment

By Nithya Subramanian | 30/05/2024

Singapore is assessed to be at medium-low risk for money laundering linked to environmental crimes.

Market Abuse

HK Jury Convicts Three in Landmark Manipulation Case

By Sanday Chongo Kabange | 30/05/2024

This was the first time an offence under the SFO has been tried at Hong Kong’s Court of First Instance.

Trading & Investment

Korea Proposes Rule Changes for Convertible Bonds Market

By Nithya Subramanian | 30/05/2024

The changes will strengthen disclosure requirements for CB issuance and enhance the rules for refixing convertible prices.

Fraud, Scams & Cybercrime

Authorities Take Down “World’s Largest” Malicious Botnet

By Editors | 30/05/2024

US authorities, with international partners, arrested the botnet’s administrator and seized infrastructure and assets.

Anti-Money Laundering

US Treasury Publishes Illicit Finance Risk Assessment on NFTs

By Editors | 30/05/2024

NFTs are “highly susceptible” to use in fraud and scams, but “rarely” used for proliferation financing or terrorist financing.

Market Abuse

Former NZ CEO Fined Over Anonymous Online Posts

By Sanday Chongo Kabange | 29/05/2024

The former CEO made false and misleading representations online purportedly to manipulate NZX-listed New Talisman Gold Mines.

PEPs & Sanctions

OFAC Sanctions Thai Firms Linked to Cybercrime Network

By Editors | 29/05/2024

Three Chinese individuals and three Thai companies were sanctioned over their links to a malicious botnet called 911 S5.