Category: AML

Regulatory Watch News

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  Justice Department and FBI Conduct International Operation to Delete Malware Used by China-Backed Hackers

  US Department of Justice

  January 14, 2025

  The Justice Department and FBI today announced a multi-month law enforcement operation that, alongside international partners, deleted “PlugX” malware from thousands of infected computers worldwide. As described in court documents unsealed in the Eastern District of Pennsylvania, a group of hackers sponsored by the People’s Republic of China (PRC), known to the private sector as “Mustang Panda” and “Twill Typhoon,” used a version of PlugX malware to infect, control, and steal information from victim computers.

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  SEC Charges Advisory Firm Navy Capital With Misrepresenting Its Anti-Money Laundering Procedures to Investors

  SEC

  January 14, 2025

  Washington D.C., Jan. 14, 2025 —

  The Securities and Exchange Commission today charged Connecticut-based investment adviser Navy Capital Green Management, LLC with making misrepresentations related to its anti-money laundering (AML) procedures and for compliance failures. Navy Capital agreed to settle the SEC’s charges and pay a $150,000 civil penalty.

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  Netherlands: Four arrests in probe into €7.2 million fraud involving imported bicycles

  European Public Prosecutor's Office

  January 14, 2025

  (Luxembourg, 14 January 2025) – Yesterday, at the request of the European Public Prosecutor’s Office in Rotterdam (Netherlands), four suspects were arrested in Rotterdam and Zevenhuizen, on suspicion of large-scale customs fraud involving bicycles imported from China. The four are suspected of systematically undervaluing the goods and falsely declaring their origin, causing an estimated damage of approximately €7.2 million.