NEWS: Maltese ‘Digital bank’ fined months after director sanctioned by US

Regulatory Watch News

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  INTERPOL publishes first Silver Notice targeting criminal assets

  Interpol

  January 10, 2025

  LYON, France – INTERPOL has published its first-ever Silver Notice to help trace and recover criminal assets, combat transnational organized crime and enhance international police cooperation. The Notice, requested by Italy, seeks information on the assets belonging to a senior member of the mafia. The Silver Notice is the newest addition to the Organization’s suite of colour-coded Notices and Diffusions, which enable countries to share alerts and requests for information worldwide. It is being launched as part of a pilot phase involving 52 countries and territories, which will run at least until November 2025.

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  FCA fines Arian Financial LLP £288,962.53 for failings relating to cum-ex trading

  Financial Conduct Authority

  January 10, 2025

  The FCA has fined Arian Financial LLP (Arian) £288,962.53 for failing to ensure it had effective systems and controls against financial crime.

  Arian’s failure to implement adequate systems and controls against financial crime put it at risk of being used to support fraudulent trading and money laundering on behalf of clients of the Solo Group. This is the seventh case brought by the FCA in relation to cum-ex trading and withholding tax schemes. This has involved proactive engagement with EU and global law enforcement authorities. The FCA has imposed fines of more than £22m in relation to this trading.

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  Fraudulent website and internet banking login screen related to Shanghai Commercial Bank Limited

  HKMA

  January 10, 2025

  The Hong Kong Monetary Authority (HKMA) wishes to alert members of the public to a press release issued by Shanghai Commercial Bank Limited relating to a fraudulent website and an internet banking login screen, which have been reported to the HKMA.  A hyperlink to the press release is available on the HKMA website.