Financial Crime

PEPs & Sanctions

OFAC Sanctions Four Targets Over Sanctions Evasion Scheme

By Editors | 15/05/2024

The targets were involved in a scheme to disguise the ownership of shares to facilitate divestment by a sanctioned Russian oligarch.

Anti-Money Laundering

FATF, UNODC, INTERPOL Issue Joint Call to Action

By Editors | 14/05/2024

Countries are asked to step up their efforts to target the illicit profits generated by transnational organised crime.

Cryptocurrency

CFTC Fines Crypto Firm FalconX $1.8m for Failure to Register

By Editors | 14/05/2024

FalconX allowed US customers to trade in crypto derivatives without registering as a futures commission merchant.

Anti-Money Laundering

Australian Court Dismisses Class Action Against CBA

By Editors | 14/05/2024

The class action alleged that CBA failed to disclose its AML contraventions for several years before it was eventually fined A$700m in 2018.

Market Abuse

FCA Offers Recommendations on Avoiding Surveillance Failures

By Manesh Samtani | 14/05/2024

The FCA says failures of market abuse surveillance are often caused by faulty implementation, bugs, and incomplete data ingestion.

PEPs & Sanctions

NZ Updates AML Guidance on Russia Sanctions

By Sanday Chongo Kabange | 14/05/2024

AML/CFT reporting entities that are duty holders under the Russia Sanctions Act must notify customers of asset freezes or blocked transactions.

Anti-Money Laundering

Canada: FINTRAC Fines Binance for Regulatory Violations

By Editors | 14/05/2024

Binance failed to report almost 6,000 crypto transactions larger than CAD 10,000 over the two years to July 2023.

Supervision & Enforcement

FINRA Censures and Fines Mizuho’s US Securities Unit

By Editors | 14/05/2024

Mizuho Securities had inaccurate or incomplete information in more than 300,000 institutional customer confirmations over five years.

Anti-Bribery & Corruption

FSS Korea Finds Misconduct at Real Estate Trust Companies

By Editors | 13/05/2024

The FSS found extortion of real estate developers, and other misconduct. The cases will be referred to investigative agencies.