Enforcement

Enforcement

Bankman-Fried to Help Investors Pursue Celebrities Who Endorsed FTX

By Nithya Subramanian | 23/04/2024

Sam Bankman-Fried has agreed to help a group of investors pursue civil claims against celebrity endorsers of FTX, potentially freeing himself from civil liability.

Enforcement

MAS Issues 12yr Ban Against Former Manulife Agent

By Nithya Subramanian | 23/04/2024

The former agent was convicted last August for deceiving 25 victims to transfer more than S$1.2mn for fictitious investments.

Enforcement

HK Police Offers Update on JPEX Fraud Investigation

By Mark Johnston | 23/04/2024

A total 72 individuals have been arrested and HKD 228 million worth of assets have been seized in connection with JPEX.

Enforcement

Germany’s APAS Finds EY Violated Professional Duties in Wirecard Audits

By Nithya Subramanian | 23/04/2024

APAS said EY had insufficient audit reporting, poor internal quality controls, and poor handling of red flags that pointed to irregularities.

Crypto / Digital Assets

US Jury Convicts Mango Markets Trader for Crypto Manipulation

By Nithya Subramanian | 23/04/2024

Avraham Eisenberg was found guilty in the first US prosecution involving the manipulation of cryptocurrency through open-market trades.

Enforcement

HKMA Fines Hua Nan Commercial Bank Over AML/CFT Controls

By Editors | 22/04/2024

HKMA identified deficiencies in the bank’s ability to continuously monitor some customer relationships over a six-year period.

Enforcement

ECB to Order UniCredit, Raiffeisen to Cut Russia Business – Reports

By Editors | 22/04/2024

Italy’s UniCredit and Austria’s Raiffeisen Bank International are expected to be ordered by the ECB to  pare back their Russia business.

Enforcement

Hong Kong AFRC Probing Whistleblower Allegations Against PwC

By Editors | 22/04/2024

The probe was prompted by an anonymous “whistle-blower report” circulating in the media which PwC says contains “inaccurate statements and false allegations”.

AML / KYC

AUSTRAC Fines Eight Firms for Compliance Report Nonsubmission

By Sanday Chongo Kabange | 22/04/2024

AUSTRAC issued infringement notices to eight firms that failed to submit their annual compliance reports.