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Financial Crime
Cryptocurrency
Russia to Tighten Regulations for Crypto Mining Operations
By Editors | 01/05/2024
Earlier it was reported that Russia was planning to ban private cryptocurrencies outright, but a lawmaker has dispelled this notion.
Market Abuse
SEBI Approves Stricter Rules to Target Front-running in AMCs
By Ajoy K Das | 01/05/2024
AMCs must establish a “structured” institutional mechanism to identify and monitor for front running, insider trading, and misuse of sensitive information.
Fraud, Scams & Cybercrime
QLD Police Charge Four for ‘Boiler Room’ Investment Fraud
By Sanday Chongo Kabange | 01/05/2024
Approximately 30 people were defrauded of over A$1.5 million between 2018 and 2021. Four people were arrested and charged.
KYC & CDD
India: AMFI in Talks with SEBI to Resolve Mutual Fund KYC Logjam
By Ajoy K Das | 01/05/2024
New KYC validation process is preventing mutual fund investors from undertaking new mutual fund transactions, including redemptions.
PEPs & Sanctions
US DOJ Secures Guilty Plea in Export Control Evasion Case
By Editors | 30/04/2024
The defendant allegedly tried to procure dual-use electronic components for entities in Russia involved in the development and manufacture of drones.
PEPs & Sanctions
Chinese Firms Turning to Illegal Channels for Russia Business
By Editors | 30/04/2024
With China’s big banks no longer processing Russia-related payments, exporters are increasingly turning to underground channels including cryptocurrency.
PEPs & Sanctions
China Cautions Japan Against Expanding Export Controls
By Editors | 30/04/2024
MOFCOM said Japan’s proposal to expand its controls on certain semiconductor products will damage the stability of global supply chains.
Supervision & Enforcement
Korea FSS to Launch Inspections at NongHyup Bank
By Editors | 30/04/2024
The bank experienced two misconduct incidents involving embezzlement, potentially due to weak internal controls.
Anti-Money Laundering
Sri Lanka Adopts Law to Enable Confiscation of Crime Proceeds
By Mark Johnston | 30/04/2024
Sri Lanka’s Cabinet approved a law that enables the tracing and confiscation of criminal proceeds, including to retrieve assets hidden overseas.
Fraud, Scams & Cybercrime
Taiwan Prosecutors Charge 32 Suspects Over Crypto Fraud
By Editors | 29/04/2024
The suspects encouraged investors to purchase various tokens and manipulated their prices, causing TWD 800 million in losses.
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