International

Fraud, Scams & Cybercrime

Singapore: Ex-Agritrade CFO Sentenced to 20 Years Jail

By Editors | 17/01/2023

The former CFO instructed subordinates to submit false financial statements to banks in Japan, South Korea, India and Taiwan to obtain trade financing.

Stablecoins

Iran, Russia Working on Gold-Backed Stablecoin – Report

By Editors | 17/01/2023

The stablecoin is intended to serve as a payment method for foreign trade without requiring the use of any fiat currency.

Fraud, Scams & Cybercrime

BitConnect Victims Receive $17mn Restitution from Crypto Fraud

By Editors | 16/01/2023

BitConnect was an online crypto lending platform that collapsed in 2018, causing investor losses estimated at over USD 2.4 billion.

Reporting & Disclosures

IAASB Begins Work on Global Standards for ESG Assurance

By ESG Investor | 16/01/2023

New globally accepted standards aim to improve investor confidence and “reduce the risk of material misstatements”.

Sustainable Finance

Companies Rally Behind Carbon Credits, Survey Finds

By ESG Investor | 15/01/2023

A survey of more than 500 medium to large businesses across the US, UK and Europe found that 89% of companies view carbon credits as a valuable tool to mitigate CO2 emissions.

PEPs & Sanctions

Illicit Crypto Transactions Reached All-time High in 2022

By Editors | 15/01/2023

Chainalysis says 44 percent of 2022’s illicit transaction volume came from activity associated with sanctioned entities, including sanctioned crypto exchange Garantex.

Anti-Money Laundering

FATF Publishes Consolidated Table of Assessment Ratings

By Editors | 15/01/2023

FATF members reportedly blocked proposals that could have more meaningfully reformed the process for adding countries to the blacklist and greylist.

Anti-Money Laundering

GCFFC Establishes APAC Regional Chapter

By Editors | 13/01/2023

The APAC Chapter is led by DBS Bank’s Debra Au and Westpac’s Jodie Arthur serving as co-chairs, and Napier’s Robin Lee serving as vice chair.

Trading & Investment

Russia to Resume Yuan Trading to Stabilise Ruble

By Editors | 13/01/2023

The move comes a year after the central bank suspended yuan trading. The finance ministry said it is allocating the equivalent of about $800mn for FX trades.