ADVERTISEMENT
Financial Crime
Anti-Money Laundering
Banque Pictet to Pay $123m to Settle US Tax Evasion Case
By Editors | 06/12/2023
Banque Pictet helped US taxpayers to use coded accounts, foreign trusts and entities, nominee beneficiaries and other “deceits” to conceal their income and assets abroad.
PEPs & Sanctions
US Treasury Announces “Counter-Fentanyl Strike Force”
By Editors | 06/12/2023
Initiative is aimed at streamlining the US Treasury Department’s efforts to combat trafficking of illicit fentanyl.
PEPs & Sanctions
US Government Offers Bounty for Russian National Accused of Sanctions Busting
By Editors | 06/12/2023
US government offers USD 7 million reward for individual accused of smuggling sensitive technology to Russia and money laundering via a German trading company.
Supervision & Enforcement
China Fines Citic Bank and Others for Regulator Violations
By Editors | 06/12/2023
China Citic Bank was fined CNY 225 million for 56 regulatory violations. Multiple other banks, asset managers, and insurers were also fined.
PEPs & Sanctions
US Sanctions Belgium-based Network for Russian Military Procurement
By Editors | 06/12/2023
US sanctions five individuals and nine entities as DOJ unseals indictments targeting illicit Russian military procurement.
KYC & CDD
SFC Fines Ruifeng Securities for Fund Management Failures
By Sanday Chongo Kabange | 05/12/2023
The penalty was imposed for failures related to fund management activities and account opening procedures.
Cryptocurrency
Cristiano Ronaldo Facing Class Action Over Binance Endorsement
By Editors | 04/12/2023
The $1bn lawsuit claims the endorsement led the plaintiffs to make loss-making investments, including in “CR7” branded NFTs.
Anti-Money Laundering
OCBC Files Suit Against Money Laundering Suspect – Report
By Editors | 04/12/2023
The suspect was among the ten Chinese-born individuals arrested in August for offences including money laundering and forgery.
PEPs & Sanctions
US Lawmakers Call for Sanctions on Chinese Drone Maker
By Editors | 04/12/2023
Autel Robotics and its US subsidiary are engaged in a variety of sanctionable activities, a House of Representatives letter claims.
Market Abuse
FINRA Fines BofA Securities for Spoofing in Treasury Markets
By Editors | 03/12/2023
FINRA said a former BofA Securities supervisor and junior trader conducted 717 spoof trades, and the firm’s systems were not able to detect such activity.
JOIN OUR NEWSLETTER
An exclusive weekly selection of top stories from the Regulation Asia editorial team.