Author: Alisha Houlihan

Regulatory Watch News

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  Fraudulent websites and internet banking login screens related to Nanyang Commercial Bank, Limited

  HKMA

  January 9, 2025

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

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  Florida Woman Sentenced for Laundering Millions of Dollars from Romance Scams

  US Department of Justice

  January 8, 2025

  A Florida woman was sentenced today to 30 months in prison for her role in a money laundering conspiracy connected to romance scams that defrauded American victims. Cristine Petitfrere, 30, of Miramar, Florida, was sentenced after admitting to personally laundering millions of dollars as part of her participation in the conspiracy. Petitfrere helped to funnel large sums of money from victims of romance scams into the hands of her overseas co-conspirators, retaining a portion as payment for her services and transferring the rest.

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  OFSI General Licence – INT/2022/1280876 amended.

  OFSI

  January 8, 2025

  On 8 January 2025, General Licence INT/2022/1280876 was amended to add Permission 5.3A which states that no distributions on VTB Bank PJSC’s claim should be made without first deducting from the distributions the value of any VTB Capital plc assets which have been or are subject to VTB Bank PJSC enforcement action, and the VTB Group Receivables; and statutory interest should not be paid for any time over which distributions are not paid because of these deductions.