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Cryptocurrency
US SEC Expands Enforcement Unit Dedicated to Crypto, Cyber
By Editors | 05/05/2022
The additional resources will be used to prioritise investigations related to crypto asset offerings, exchanges, lending and staking products, as well as DeFi platforms, NFTs and stablecoins.
Fraud, Scams & Cybercrime
BSP Sanctions BDO, UBP Over Unauthorised Bank Transfers
By Editors | 04/05/2022
The BSP said it has completed its investigation into the incident and sanctioned both BDO Unibank and UBP, but it did not specify the penalties.
Anti-Money Laundering
NAB Enters Undertaking to Uplift AML/CTF Compliance
By Editors | 04/05/2022
NAB’s action plan has to be completed by 31 Dec 2024, and a final report issued by Mar 2025. An independent auditor will have to report progress to AUSTRAC annually.
PEPs & Sanctions
EU Set to Propose Sixth Sanctions Package Against Russia
By Manesh Samtani | 04/05/2022
The new measures include a possible phased-in embargo on buying Russian oil and EU sanctions against Sberbank, with Germany’s backing.
Fraud, Scams & Cybercrime
Korean Police Arrest Woori Employee for Embezzlement
By Editors | 03/05/2022
The theft occurred in three separate withdrawals between 2012 and 2018. It went undetected despite 11 inspections and audits at Woori during the period.
Cybersecurity
India: CERT-In Includes Crypto Firms in New Directions
By Manesh Samtani | 03/05/2022
The directions require crypto exchanges, custodians and wallet providers in India to retain KYC information for five years and report cyber incidents to CERT-In.
Cryptocurrency
Singapore: Revolut, Luno Get In-Principle Approval to Offer DPT Services
By Editors | 02/05/2022
MAS managing director Ravi Menon described the licensing process as necessarily stringent for Singapore to be a responsible global crypto hub.
Anti-Money Laundering
German Authorities Raid Deutsche Bank in Money Laundering Probe
By Editors | 02/05/2022
The raids are reportedly connected to late SARs filings involving a transaction linked to the family of Syrian leader Bashar al-Assad.
PEPs & Sanctions
Chinese Regulators Consider Options to Guard Against Sanctions
By Editors | 02/05/2022
Officials from the PBOC, MOF and CSRC reportedly met with foreign and domestic banks to discuss ways to protect China’s foreign assets from possible future US sanctions.
Fraud, Scams & Cybercrime
Bangladesh Tightens Rules for Agent Banking Operations
By Editors | 01/05/2022
Banks will be required to more closely monitor their agent banking outlets, conduct regular visits of such operations, and submit quarterly reports on any irregularities detected.
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