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NEWS: US man sentenced to 5 years over laundering crypto stolen from Bitfinex hack

Premium November 15, 2024

CRYPTO: A file photo of Heather Morgan, an New York-based aspiring rapper who goes by the stage name Razzlekhan. Heather Morgan who was arrested in Manhattan on Tuesday Feb 8, 2022 alongside her husband, tech entrepreneur Ilya Lichtenstein, who admitted conspiring to launder $4.5 billion in cryptocurrency.

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NEWS: AI portfolio manager charged with money laundering, lied to clients claiming $3.5M fund was worth ‘billions’

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NEWS: US says MetLife unit reached settlement over Iran sanctions violations

NEWS: FBI probes Citi over ties to sanctioned Russian; bank’s AML processes also under scrutiny

By Kanishka Singh A New York technology entrepreneur was sentenced to five years in prison on Thursday after pleading guilty last year to laundering funds stolen from Bitfinex one of the world’s largest cryptocurrency exchanges, with the help of his wife. Ilya Lichtenstein, 35, hacked into Bitfinex’s network in 2016, using advanced hacking tools and…

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Premium

NEWS: AI portfolio manager charged with money laundering, lied to clients claiming $3.5M fund was worth ‘billions’

 Premium

NEWS: US says MetLife unit reached settlement over Iran sanctions violations

NEWS: FBI probes Citi over ties to sanctioned Russian; bank’s AML processes also under scrutiny

Regulatory Watch News

  • EPPO traces fraudulent Chinese imports to France via Port of Athens

    European Public Prosecutor's Office

    (Luxembourg, 15 November 2024) – On 13 and 14 November 2024, in an investigation led by the European Public Prosecutor’s Office (EPPO) in Paris (France), searches and witness interviews were carried out in Greece, in a probe into fraudulent imports of textiles, garments and fashion items from China into the EU, via the Piraeus Port of Athens, with the French market as the final destination. The fraud scheme under investigation caused an estimated damage of over €5.2 million in unpaid customs duties and VAT.

  • First Cloud Resilience Crisis Management Exercise by APAC Financial Regulators and Cloud Providers

    MAS

    Singapore, 15 November 2024… Asia Pacific financial regulators and global cloud service providers (CSPs) in the Financial Sector Cloud Resilience Forum[1], established by the Monetary Authority of Singapore (MAS), conducted a crisis management tabletop exercise on 6 November 2024. The exercise, which is the first of its kind in the region, simulated a severe public cloud incident disrupting multiple financial sectors across the region.

  • SFC sanctions Zuo Ping for breaches of the Takeovers Code

    Securities and Futures Commission

    The Securities and Futures Commission (SFC) publicly censured and imposed a six-year cold shoulder order (Note 1) against Ms Zuo Ping for breaching the mandatory general offer obligation under the Takeovers Code . Zuo made a number of acquisitions and disposals of shares in CBK Holdings Limited (CBK) on the market between 2 November 2023 and 20 November 2023. As a result of these transactions, her shareholding interest in CBK increased from 0% to 30.22% of CBK’s then issued share capital on 20 November 2023, triggering a mandatory general offer obligation under Rule 26.1 of the Takeovers Code. She did not make any general offer for CBK’s shares at that time.

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