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Financial Crime
Anti-Money Laundering
Singapore Officials Assure Foreign Banks of Stability – Report
By Nithya Subramanian | 22/04/2024
Senior government officials have held briefings with international banks to emphasise Singapore’s safety, reliability and trustworthiness.
PEPs & Sanctions
ECB to Order UniCredit, Raiffeisen to Cut Russia Business – Reports
By Editors | 22/04/2024
Italy’s UniCredit and Austria’s Raiffeisen Bank International are expected to be ordered by the ECB to pare back their Russia business.
Conduct, Culture & Accountability
Hong Kong AFRC Probing Whistleblower Allegations Against PwC
By Editors | 22/04/2024
The probe was prompted by an anonymous “whistle-blower report” circulating in the media which PwC says contains “inaccurate statements and false allegations”.
Anti-Money Laundering
AUSTRAC Fines Eight Firms for Compliance Report Nonsubmission
By Sanday Chongo Kabange | 22/04/2024
AUSTRAC issued infringement notices to eight firms that failed to submit their annual compliance reports.
PEPs & Sanctions
OFAC Penalises Thai Petrochemical Firm for Sanctions Violations
By Editors | 21/04/2024
A unit of a Siam Cement Group subsidiary obfuscated the Iranian origin of polyethylene resin, causing US banks to unknowingly process transfers that violated sanctions.
Fraud, Scams & Cybercrime
Australian Court Fines Macquarie for Inadequate Controls
By Editors | 21/04/2024
Macquarie failed to prevent a now jailed financial adviser from fraudulently withdrawing A$2.9mn from customer accounts between 2016 and 2019.
PEPs & Sanctions
US Sanctions Four Entities Over Pakistan Missile Inputs
By Editors | 21/04/2024
One Belarus-based and three China-based entities were sanctioned for supplying Pakistan’s ballistic missile programme.
PEPs & Sanctions
US, EU Issue New Sanctions Over Settler Violence in West Bank
By Editors | 21/04/2024
OFAC’s sanctions target two entities that helped raise funds for two already-designated Israeli settlers. The EU sanctions target four individuals and two entities.
PEPs & Sanctions
US Reimposes Sanctions on Venezuela’s Oil and Gas Sectors
By Editors | 20/04/2024
Venezuela has fallen short of its commitments in terms of opening up the democratic and electoral process, US officials said.
Cryptocurrency
Binance, KuCoin to Return to India as Compliant Crypto Exchanges
By Ajoy K Das | 19/04/2024
Binance will pay a $2mn penalty and return to India as a registered firm. Kucoin announced its return last month.
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