Enforcement
2nd September 2021
Indonesia is scaling up its fight against fisheries-related crimes, going beyond boat crews to target the ultimate beneficiaries of these illegal practices. The country’s fisheries ministry announced the move in the wake of a Constitutional Court decision in June that allows civil servants to investigate certain criminal… Read More
2nd September 2021
The U.K.’s accounting watchdog filed a disciplinary complaint against KPMG LLP, a former partner and current and former employees of the accounting firm over their role in past audits of two U.K. companies. KPMG and the individuals cited provided “false and misleading information” and documents to the Financial Reporting Council… Read More
2nd September 2021
India’s Enforcement Directorate (ED) questioned leading Telugu film director Puri Jagannadh for nearly 10 hours on Tuesday in connection with a money-laundering probe linked to a four-year-old drug case. Jagannadh, who, along with his chartered accountant, appeared before ED officials after he was summoned in connection with the probe, left… Read More
2nd September 2021
The top U.S. securities regulator on Wednesday sued the founder of the now-defunct cryptocurrency exchange platform BitConnect over his alleged role in fraudulently raising about $2 billion from retail investors. Expanding a civil case announced in May, the U.S. Securities and Exchange Commission charged BitConnect founder Satish Kumbhani, an Indian… Read More
2nd September 2021
By Ashley Pechinski, InSight Crime, 1 September 2021 InSight Crime — The increasing use of an instant money transfer app is driving express kidnappings in the Brazilian city of São Paulo – a crime that now requires no more than a password and a push of a… Read More
1st September 2021
Slovakia’s attorney general dropped charges against the country’s second-richest man, Jaroslav Hascak, on Tuesday, halting one of Slovakia’s most high-profile cases due to lack of evidence. Hascak, a founding partner of Czech-Slovak Penta Investments, a private-equity group with assets in central Europe valued at 11.1 billion euros in 2020, was… Read More
1st September 2021
Pilatus Bank has been fined a record €4.9 million for a “serious and systemic failure” to follow anti-money laundering laws at the now-shuttered bank. In a notification on its website, the Financial Intelligence Analysis Unit (FIAU) on Tuesday said the bank’s lax approach to due diligence on its customers… Read More
1st September 2021
Corruption proceedings against Peruvian opposition politician Keiko Fujimori kicked off with a preliminary court hearing on Tuesday, just weeks after she conceded defeat in her third unsuccessful presidential run. Fujimori lost the June 6 runoff against leftist Pedro Castillo with 49.87 percent of the vote to his… Read More
31st August 2021
The TSB Bank has been penalised $3.5 million for breaches of anti-money laundering rules. The Reserve Bank (RBNZ) brought the case after TSB failed to fix faults in its systems that it was warned about in 2016, with what the RBNZ called an “inadequate and ineffective” effort to fix… Read More
31st August 2021
Switzerland’s Federal Criminal Court has sentenced a German woman, who was at the helm of a trading company, to 45 months behind bars in a hefty fraud case. The 71-year-old woman, a former director of the Lucerne-based trading company Fera, was accused of obtaining loans from banks by producing fictitious… Read More