17th July 2019
The Mercedes-Benz limousines seen chauffeuring around North Korean leader Kim Jong Un this year have stumped outsiders over how the sanctions-hit regime obtained the luxury rides. But researchers now believe they have unearthed the Kim regime’s smuggling secret: It takes three cargo jets, about four months and five countries. A… Read More
19th June 2019
Japan Post Bank Co. will soon limit cross-border remittances in an effort to bolster its anti-money laundering (AML) controls, according to reports by Japanese news outlets. The Toyko-based bank, which currently has no cap on overseas remittances, plans to restrict the payments to 5-million yen, or $46,000, ahead of a… Read More
14th June 2019
Two online gaming companies will pay a combined £2.8 million for anti-money laundering (AML) compliance lapses related to client bets made with ill-gotten gains, the UK Gambling Commission said. The fines against Osaka-based Platinum Gaming Ltd and London-based Gamesys Ltd follow a combined £4.5 million in monetary outlays ordered… Read More
6th June 2019
Former French Justice Minister Rachida Dati is being probed over consulting fees she has received from the Renault-Nissan strategic partnership, France’s financial prosecutor office said on Tuesday. The preliminary investigation follows a complaint by an individual Renault shareholder against Dati, Ghosn and Bauer for corruption and misuse of company funds,… Read More
30th May 2019
Japan’s financial watchdog on Tuesday ordered Nomura Holdings to improve its business practices after the country’s biggest brokerage admitted an employee had leaked market information. The Financial Services Agency said it had issued one of its “business improvement orders” against Nomura, a regulatory punishment that requires firms to submit a… Read More
24th May 2019
A federal judge on Thursday sentenced a former Las Vegas medical billing company operator who prosecutors called the ringleader of a $1.5 billion Ponzi scheme that bilked thousands of Japanese residents to 50 years in prison. Edwin Fujinaga, 72, the former chief executive of MRI International Inc, was sentenced by… Read More
26th April 2019
The US Federal Reserve on Thursday ordered the New York-branch of Sumitomo Mitsui Banking Corporation to improve its anti-money laundering (AML) controls for senior management and board directors. Under the terms of the written order, the Japanese lender must draft a plan for ensuring that its top managers are made… Read More
24th April 2019
Japan’s financial regulator raided two cryptocurrency exchanges last week to investigate their internal oversight, including customer protection and anti-money laundering measures, two sources familiar with the matter said on Tuesday. The Financial Services Agency (FSA) is pushing to ensure the security of virtual currencies as Japan aims to leverage the… Read More
21st April 2019
AP — Two former investment executives from Japan pleaded not guilty in Las Vegas on Thursday to criminal fraud charges in what prosecutors have called a $1.5 billion international Ponzi scheme. Junzo Suzuki, 70, and his son, Paul Suzuki, 40, arrived in custody in the U.S. on Wednesday, and appeared… Read More
17th April 2019
Japan’s financial regulator will require cryptocurrency exchanges to strengthen internal oversight of the so-called “cold wallets” used to store digital money, a source with direct knowledge of the matter told Reuters on Tuesday. The move by the Financial Services Agency (FSA) highlights the difficulties in ensuring security of virtual currencies,… Read More