Financial Crime

Anti-Money Laundering

NatWest to Claw Back Bonuses from Ex-Staff Over 2021 AML Fine

By Editors | 18/02/2024

Malus, clawback or reduction notices will be applied to ten individuals who were in role when the failures occurred but have since left NatWest.

KYC & CDD

RBI Defers Effective Date of Paytm Payments Bank Restrictions

By Editors | 18/02/2024

The deferral is to allow customers more time to make alternative arrangements. RBI also released FAQs to clarify the impacts of the restrictions.

Market Abuse

Former Goldman Analyst Jailed in the UK for Insider Trading

By Editors | 18/02/2024

Mohammed Zina used sensitive information about deals Goldman was advising on to trade shares in six companies.

Fraud, Scams & Cybercrime

AFP Officer Charged with Stealing Bitcoin from Drug Bust

By Mark Johnston | 17/02/2024

The 2019 theft was discovered in 2021, when police implemented new tracing tools and tracked the crypto to Binance.

Market Abuse

Korean Prosecutors Search HSBC, BNP Offices in Short Selling Probe

By Sanday Chongo Kabange | 16/02/2024

The searches are part of a mandatory criminal investigation for violations of the Capital Markets Act.

Anti-Money Laundering

US Court Charges Digitex CEO with BSA Violations

By Mark Johnston | 16/02/2024

Founder and CEO of Digitex Futures Exchange has been indicted for failing to establish and implement an AML program as required by the Bank Secrecy Act.

AI Risk & Governance

US SEC Chair Warns Companies Against ‘AI Washing’

By Nithya Subramanian | 15/02/2024

Gary Gensler has asked companies looking to raise money from the public to be truthful and transparent about their use of AI and the associated risks.

PEPs & Sanctions

OFAC Sanctions 7 Targets Over Illegal Exports to Iran

By Editors | 15/02/2024

Three individuals and four entities, including a subsidiary of Iran’s central banks, were sanctioned for illegally exporting US goods and tech to Iran.

Fraud, Scams & Cybercrime

FCA Calls on Industry to Take Lead in Combatting Financial Crime

By Ranamita Chakraborty | 15/02/2024

The FCA is urging regulated firms to utilise technology advancements and upgrade their systems to match the sophistication of criminals.