Financial Crime

PEPs & Sanctions

EU Council Approves Law Criminalising Sanctions Violations

By Editors | 14/04/2024

It will be a criminal offence in all member states to help someone bypass a travel ban  or trade in sanctioned goods.

PEPs & Sanctions

LME, CME Barred from Accepting Three Key Russian Metals

By Editors | 12/04/2024

The LME and CME can no longer accept new aluminum, copper, and nickel produced by Russia. Existing stocks are exempt from the ban.

Anti-Bribery & Corruption

Former China Everbright Chairman Charged for Bribery

By Editors | 12/04/2024

Tang Shuangning was one of China’s most influential business leaders from 2007 to 2017 in his role as chairman of China Everbright Group.

PEPs & Sanctions

US Adds 11 Entities to Entity List, Including 6 Chinese Firms

By Editors | 12/04/2024

One of the entities was “working as a part of a network” with three Russian firms to procure aerospace components for Iran.

Fraud, Scams & Cybercrime

Taiwan Crypto Exchange Founder Charged for Money Laundering

By Nithya Subramanian | 12/04/2024

Taiwanese prosecutors have indicted the founder of ACE Exchange, David Pan, for a crypto fraud involving more than $10mn.

Fraud, Scams & Cybercrime

Vietnam Court Sentences Property Tycoon to Death Over $12b Fraud

By Nithya Subramanian | 12/04/2024

Truong My Lan was found guilty of siphoning money from Saigon Joint Stock Commercial Bank and bribing officials to cover up the fraud.

Anti-Bribery & Corruption

Hong Kong IA and ICAC Execute First Joint Operation

By Sanday Chongo Kabange | 12/04/2024

Two individuals were arrested over a scheme by an insurance broker to use unlicensed referrers to sell insurance policies to Mainland Chinese visitors in Hong Kong.

Supervision & Enforcement

ASIC Proposes Updates to Guidance for Insolvency Practitioners

By Sanday Chongo Kabange | 12/04/2024

The proposed updates will provide improved guidance on reporting requirements and reduce “unnecessary effort and expense”, ASIC said.

AI Risk & Governance

CFTC Subcommittee to Advance Work on AI Regulation

By Manesh Samtani | 12/04/2024

MRAC subcommittee will initially focus on obtaining a better understanding of how CFTC registrants are using AI to conduct regulated activities.