NEWS: Court confirms stunning downfall of Austria’s historic Meinl Bank over AML failures

Regulatory Watch News

• 

  EFCC Hands over Recovered Monetary Asset to Spanish Ambassador

  EFCC

  September 23, 2024

  The Executive Chairman of the Economic and Financial Crimes Commission, EFCC, Ola Olukoyede on Friday, September 20, 2024 handed over €5100 (Five Thousand, One Hundred Euros) proceeds of crime to the Spanish Ambassador to Nigeria, His Excellency, Juan Ignacio Sell. The sum was recovered from a Nigerian romance fraudster for Heinz Burchard Einhaus Uchtmann, a Spanish victim by the EFCC in collaboration with the Spanish Police.

• 

  HKMA commences Phase 2 of e-HKD Pilot Programme and expands Project e-HKD to explore new forms of digital money

  HKMA

  September 23, 2024

  The Hong Kong Monetary Authority (HKMA) today (23 September) commenced Phase 2 of the e-HKD Pilot Programme (Phase 2) to delve deeper into innovative use cases for new forms of digital money, including e-HKD and tokenised deposits, that can potentially be used by individuals and corporates.  As Project e-HKD expands its coverage from e-HKD only to a more comprehensive exploration of the digital money ecosystem, the project has been renamed as Project e-HKD+, reflecting the evolving fintech landscape and the HKMA’s commitment to unlocking the full potential of digital money.

• 

  FINTRAC imposes an administrative monetary penalty on Coinseason Capital Inc.

  FINTRAC

  September 20, 2024

  FINTRAC announced today that it has imposed an administrative monetary penalty on Coinseason Capital Inc. This money services business in Richmond, British Columbia, was imposed an administrative monetary penalty of $33,000 on May 31, 2024, for non-compliance with Part 1 of the Proceeds of Crime (Money Laundering) and Terrorist Financing Act and associated Regulations. Coinseason Capital Inc. was found to have committed the following administrative violation:

  • Failure to renew their registration as a money services business with the Centre.

  The administrative monetary penalty has been paid in full by Coinseason Capital Inc. and proceedings have ended.