Financial Crime

PEPs & Sanctions

US Treasury Official Calls for Expanded Tools to Target Crypto

By Manesh Samtani | 10/04/2024

Without Congressional action, the use of virtual assets by terrorists, ransomware actors and rogue nations will only grow, said Wally Adeyemo.

Fraud, Scams & Cybercrime

SFC Secures Court Orders Against Former Company CFO

By Sanday Chongo Kabange | 10/04/2024

The former CFO was ordered to pay compensation of HK$163mn, the full amount that was misappropriated by the former chairman.

Anti-Money Laundering

Mossack Fonseca Trial Commences in Panama Over 2016 Document Leak

By Mark Johnston | 10/04/2024

The founders and other former representatives, lawyers and ex-employees of Mossack Fonseca face money laundering charges for a corruption scheme in Brazil.

PEPs & Sanctions

US Prepared to Sanction Chinese Banks That Aid Russian Military

By Editors | 09/04/2024

Janet Yellen said the US stands ready to act against “anything that involves aiding Russia’s military in their brutal war”.

Anti-Money Laundering

Malaysia Consults on Proposed Trust Companies Bill

By Editors | 09/04/2024

Since coming into force in 1949, Malaysia’s Trust Companies Act has only been reviewed once in 1973.

Emerging Prudential Risks

US Treasury and PBOC to Conduct Joint Financial Shock Exercises

By Manesh Samtani | 09/04/2024

The exercises will help establish lines of communication between US and Chinese regulators and identify areas of potential cross-border contagion and other risks.

Anti-Money Laundering

Indonesian President Signs Decree on FATF Membership

By Editors | 09/04/2024

The decree signing strengthens Indonesia’s commitment to participate in combating financial crime globally, said the head of the country’s FIU.

Fraud, Scams & Cybercrime

Google Sues Crypto Scammers Over Fraudulent Apps

By Nithya Subramanian | 09/04/2024

Google said it is the first tech company to take action against crypto scammers, and that it is doing so as a way to establish legal protections for users.

PEPs & Sanctions

US Court Sets Jan 2026 for Huawei Sanctions Evasion Trial

By Editors | 08/04/2024

The trial date was set as a placeholder after settlement negotiations between the DOJ and Huawei ended in an impasse.