Financial Crime

Anti-Money Laundering

AUSTRAC Accepts Enforceable Undertaking from Perth Mint

By Sanday Chongo Kabange | 23/11/2023

The enforceable undertaking binds Gold Corporation to completing its AML/CTF remediation programme by 30 April 2025.

Anti-Money Laundering

FATF, OECD Spotlight Vulnerabilities of Investment Migration Programmes

By Manesh Samtani | 23/11/2023

The report proposes mitigation measures to address the risks and vulnerabilities associated with investment migration programmes.

Anti-Money Laundering

SFC Fines Lion Futures for AML Non-Compliance

By Sanday Chongo Kabange | 23/11/2023

Lion Futures is the 7th firm to be fined over the use of software that allows Mainland investors to trade without opening a local securities account in Hong Kong.

Cybersecurity

Australia Issues Seven-Year National Cyber Security Strategy

By Manesh Samtani | 23/11/2023

Small businesses will be given cyber health checks, cyber law enforcement funding will increase, and mandatory reporting of ransomware attacks will be introduced.

AI Risk & Governance

Regulators Must Keep Pace with Technology to Manage Systemic Risks

By Nithya Subramanian | 23/11/2023

With frauds and crimes getting sophisticated, institutions and regulators need to assume an increased level of responsibility, said Deborah Young.

PEPs & Sanctions

UK, South Korea to Cooperate on North Korea Sanctions Patrols

By Editors | 23/11/2023

Agreement calls for greater naval cooperation to detect and thwart violations of UN sanctions off the coast of North Korea.

Cryptocurrency

Crypto Firm Bittrex Global Announces Decision to Cease Operations

By Sanday Chongo Kabange | 22/11/2023

While Bittrex Global did not specify a reason for the decision, regulatory uncertainty is seen as the biggest factor.

Anti-Money Laundering

US Authorities Secure Multi-Billion Dollar Settlement from Binance

By Editors | 21/11/2023

Binance CEO Changpeng Zhao stepped down as part of the settlement with DOJ, FinCEN, OFAC and CFTC. SEC case not mentioned.

Anti-Bribery & Corruption

UK Reinsurance Brokers Settle FCPA Charges for Ecuador Bribes

By Mark Johnston | 21/11/2023

Tysers Insurance Brokers agreed to pay almost $47mn for bribing officials at Ecuadorian state-owned insurance companies.