Category: Middle East

Regulatory Watch News

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  Office of Financial Sanctions Implementation  – Update

  OFSI

  March 24, 2025

  On 24 March, General Licence INT/2022/2085212, was amended such that Rosbank PJSC has been removed from the definition of Sanctioned Banks; and TBank has been added to the definition of Sanctioned Banks.

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  SFC reprimands and fines Enlighten Securities Limited $5 million and suspends its responsible officer for internal control failures over securities margin financing

  Securities and Futures Commission

  March 24, 2025

  The Securities and Futures Commission (SFC) has reprimanded and fined Enlighten Securities Limited (ESL) $5 million for internal control failures over securities margin financing (Note 1). The SFC has also suspended the licence of Mr Denny Kua Kong Chak – a responsible officer and a manager-in-charge of ESL, and a member of the firm’s senior management – for seven months from 21 March 2025 to 20 October 2025

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  VIC woman charged over alleged money laundering linked to luxury watches, gold bullion and cash

  Australia Federal Police

  March 24, 2025

  The AFP has charged a Melbourne woman today (24 March, 2025) as part of a money laundering investigation that resulted in the 2023 seizure of luxury watches, gold bullion and cash valued at almost $400,000. The woman, 43, is expected to appear before Melbourne Magistrates’ Court today (24 March, 2025) after she was arrested at her Braybrook home. The AFP will allege the woman used a cafe she opened in mid-2022 to conceal proceeds of crime.