NEWS: Singapore hopes new AML rules will aid environmental crime crackdown

Regulatory Watch News

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  SC Charges Former Investment Banker with Securities Fraud and Unlicensed Capital Market Activities

  Securities Commission Malaysia

  September 19, 2024

  The Securities Commission Malaysia (SC) yesterday charged Ruwan Amaresh Shaun Ponniah (Ruwan) at the Kuala Lumpur Sessions Court for defrauding investors into depositing monies totaling RM201,000 for shares investments.

  The SC also charged Ruwan for an offense relating to unlicensed capital market activities. Ruwan, 35, was an associate director of Debt Capital Markets at CIMB Investment Bank when the offences took place between October 2018 and June 2020. Ruwan faced 10 charges under section 179(b) of the Capital Markets and Services Act 2007 (CMSA) for falsely representing to seven individuals that he would invest their monies in shares listed on the Malaysian and foreign stock exchanges. If convicted, Ruwan faces a jail term not exceeding 10 years and a fine of not less than RM1 million.

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  Operation Kraken-Dathomir: Victorian man charged over seizure of 58kg cannabis and $395k in illicit cash

  Australia Federal Police

  September 19, 2024

  The AFP have charged a Victorian man with connections to Albanian organised crime, after allegedly trafficking $1.2 million dollars’ worth of cannabis between Victoria and New South Wales and dealing with illicit cash, as a result of intelligence from the AFP’s disruption to a major encrypted communications platform. The Hillside man, 36, was identified during AFP-led Operation KRAKEN, as an alleged reseller of an encrypted criminal communications (ECC) device ‘Ghost’ used to coordinate secret communications between members of an Albanian organised criminal syndicate.

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  Joint Statement on the Second Annual Export Enforcement Five Conference

  US Department of Commerce

  September 18, 2024

  Washington, D.C., September 18, 2024 – Representatives from the United States, Australia, Canada, New Zealand, and the United Kingdom, collectively known as the Export Enforcement Five or E5, gathered in Washington, D.C. on September 17 and 18, 2024, and reaffirmed their commitment to combatting Russia’s circumvention of export controls and sanctions in attempts to obtain dual-use items to support its illegal invasion of Ukraine. Since its establishment in 2023, the E5 have made significant strides in export control and sanctions enforcement actions. Together, we have diligently collaborated to enhance export control measures and implement targeted sanctions in response to Russia’s invasion of Ukraine.