Category: AML

Regulatory Watch News

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  Press Statement: SCUML Certificate Is Not CLEARANCE BY EFCC

  EFCC

  April 22, 2025

  ST Technologies (not CBEX)  registered with the Special Control Unit against Money Laundering,  SCUML in line with Section 17 of the Money Laundering (Prevention & Prohibition) Act, 2022. Registration is a statutory  requirement for all Designated Non-Financial Businesses and Professions,  DNFBPs, in Nigeria in consonance with Nigeria’s Anti-Money Laundering/ Control of Financing Terrorism,  AML/CFT regime. The EFCC is not a clearing house or regulatory authority of online businesses. But financial fraud of any kind is the remit of the Commission, and it is committed to ensuring justice for victims of the CBEX scam.

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  Fraudulent website and internet banking login screen related to Shanghai Commercial Bank Limited

  HKMA

  April 22, 2025

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

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  SEC Awards $6 Million to Joint Whistleblowers

  SEC

  April 21, 2025

  Washington D.C., April 21, 2025 —

  The Securities and Exchange Commission today announced an award of approximately $6 million to joint whistleblowers who provided new information that led to the opening of an examination and provided a roadmap for an enforcement action that resulted in the covered action.

  “Today’s award illustrates that the agency can leverage whistleblower information in various ways, including by prompting an examination,” said Jonathan Carr, Acting Chief of the SEC’s Office of the Whistleblower. “If that examination ultimately results in an enforcement action, the whistleblower may be eligible for an award.”