Financial Crime

Anti-Money Laundering

DOJ Proposes Stricter Bond Conditions for Binance Founder

By Mark Johnston | 27/02/2024

Judge approves Binance’s settlement. Prosecutors propose stricter bond conditions for founder Changpeng Zhao until sentencing.

PEPs & Sanctions

Ukraine Calls on FATF to Take Stronger Action on Russia

By Editors | 26/02/2024

Russia has been procuring missiles from Iran and North Korea for use against Ukraine in violation of UN sanctions, the Ukrainian Finance Ministry said.

PEPs & Sanctions

Sanctions Against Chinese Firms are “Unlawful” – MOFCOM

By Editors | 26/02/2024

China’s Ministry of Commerce said the sanctions will have a negative impact on economic and trade relations with the EU and UK.

Market Abuse

CSRC Vows to Crack Down on Listed Company Misconduct

By Mark Johnston | 26/02/2024

The CSRC warns of harsh penalties for fraudulent listings, accounting scams, misuse of funds, insider trading, and market manipulation.

Structural Regulation

Australian Senator Calls for New Financial System Inquiry

By Editors | 26/02/2024

Senator Andrew Bragg said ASIC and APRA are failing in their mandates and that the twin peaks model has “had its day”.

Supervision & Enforcement

SkyCity Adelaide Faces A$33M Penalty for Casino Tax Dispute

By Mark Johnston | 26/02/2024

SkyCity estimates it owes about A$13mn in back taxes dating back to 2014. Penalty interest could amount to as much as A$20mn.

Anti-Money Laundering

UK FCA Probes Lloyds Banking Group Over AML Controls

By Mark Johnston | 26/02/2024

Lloyds said it is cooperating with the investigation and it is “not currently possible” to estimate the potential financial impact, if any.

Fraud, Scams & Cybercrime

MAS, SPF Probe Samlit Moneychanger for Fraudulent Activities

By Nithya Subramanian | 26/02/2024

The money remittance company has informed the Monetary Authority of Singapore that it is planning to surrender its payment services licence.

PEPs & Sanctions

Russia is Procuring Tank Parts Made in Japan, Taiwan via China

By Editors | 25/02/2024

A Belarusian-owned company in Shenzhen has reportedly been acquiring tank parts from Japanese and Taiwanese manufacturers for use by Russia.