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Financial Crime
KYC & CDD
Multiple US Regulators Probing Morgan Stanley’s Wealth Arm – Report
By Nithya Subramanian | 16/04/2024
US regulators are assessing whether the bank has sufficiently investigated the identities of clients and their sources of wealth.
Fraud, Scams & Cybercrime
SFC Orders Trading Suspension of Listed Fruit Products Seller
By Editors | 16/04/2024
The company was earlier ordered to reconstitute its board of directors and engage an independent manager over more than $60m in missing funds.
Fraud, Scams & Cybercrime
Three Crypto Firms Enter Into Liquidation in Australia
By Editors | 16/04/2024
A$55mn worth of assets belonging to a crypto fund operator have been frozen by court order, after investors became concerned about the fund’s management.
Cryptocurrency
ASIC Commences Proceedings Against Blockchain Mining Companies
By Editors | 16/04/2024
The companies, without an AFS licence, encouraged investors to set up self-managed superannuation funds to then invest in blockchain mining packages and crypto.
PEPs & Sanctions
US and Canada Sanction Belarus-linked Individuals and Entities
By Editors | 16/04/2024
The US sanctions target revenue-generating SOEs and others involved in a global arms network. Canada’s sanctions are human rights-related.
Fraud, Scams & Cybercrime
Australia: New ID Register Blocks 300,000 Fraud Attempts
By Nithya Subramanian | 15/04/2024
Following the Optus breach, a new register was set up to prevent compromised personal credentials from being used as forms of identity.
Fraud, Scams & Cybercrime
Thailand to Tighten Rules for P2P Trading of Crypto
By Nithya Subramanian | 15/04/2024
Thai Minister calls on SEC to extend existing crypto regulations to cover P2P channels as a way to combat fraud and scams.
Cryptocurrency
NZ Official Hints at Future Crypto Regulatory Framework
By Sanday Chongo Kabange | 15/04/2024
Andrew Bayly acknowledged the risk of regulatory arbitrage “if New Zealand does not keep in step with” major digital asset regulatory developments.
PEPs & Sanctions
G7 Considers Sanctions Response to Iran Attack on Israel
By Editors | 15/04/2024
The sanctions may involve designating Iran’s IRGC as a terrorist organisation, and specific sanctions against drone and missile programmes.
PEPs & Sanctions
US and EU Announce New Sanctions Targeting Hamas
By Editors | 15/04/2024
The US targeted leaders of Hamas cyber and drone operations. The EU targeted three entities linked to human rights abuses.
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