Financial Crime

PEPs & Sanctions

North Korea Executes Currency Trader in FX Crackdown: Report

By Editors | 30/11/2020

North Korea is tightening controls over its economy and the use of foreign currency, amid a near 20% appreciation of the won over the US dollar in recent months.

Anti-Money Laundering

UK Crime Agency Reveals Progress of SARs Reform Programme

By Editors | 29/11/2020

Law enforcement will get a new single interface providing access to search, analysis and visualisation tools. SARs reporters will see the SAR Online portal upgraded.

PEPs & Sanctions

EU Set to Formalise Magnitsky-style Sanctions Regime

By Editors | 29/11/2020

New legislation provisionally agreed by member states will allow the EU to target individuals who commit gross human rights violations irrespective of nationality.

Supervision & Enforcement

US OCC Fines JPMorgan for Weak Controls Over Fiduciary Activities

By Editors | 29/11/2020

The deficiencies identified by the OCC constituted unsafe or unsound practices that were part of “a pattern of misconduct”, says the consent order.

Structural Regulation

Indonesia Prepares to Launch Sovereign Wealth Fund

By Manesh Samtani | 29/11/2020

Indonesia will need to pay particular attention to the governance of the new fund, as Malaysia’s 1MDB scandal still looms large in the minds of global investors.

Anti-Money Laundering

Cambodia Enacts Law to Regulate Local Gaming Industry

By Sanday Chongo Kabange | 29/11/2020

The new law seeks to address a FATF requirement for Cambodia to implement risk-based supervision for casinos, while also helping to further develop the gaming sector.

Fraud, Scams & Cybercrime

Prosecutors Assess Whether EY Acted Criminally During Wirecard Audits

By Editors | 29/11/2020

Germany’s audit supervisor has reportedly told prosecutors that EY may have violated its legal due diligence and reporting obligations during its Wirecard audits.

PEPs & Sanctions

FTSE Russell, MSCI Consult on Impact of China Sanctions

By Manesh Samtani | 26/11/2020

FTSE Russell is seeking views on the impact of the sanctions on its indexes. MSCI is asking about the impacts on investment processes.

Anti-Money Laundering

Philippines Approves House Bill to Strengthen AML Law

By Editors | 26/11/2020

The amendments will bring precious metals dealers, casinos and real estate brokers and developers into scope under the Anti-Money Laundering Act.