Tag: Region Asias

Home finance companies General Commercial Group Pty Ltd (formerly known as Urban Commercial Group) and Eden Capital (Australia) Pty Ltd (formerly known as Southside Lending) have each been penalised $50,000 by the Federal Court for failing to cooperate with the Australian Financial Complaints Authority (AFCA). General commercial director Dale Brendan Heremaia and his son, Eden Capital director Benjamin Eden Heremaia, were ordered to pay $30,000 and $20,000 respectively for their roles in the misconduct. The court outcome means for the…

A former Special Agent in Charge of the FBI New York Counterintelligence Division and a former Soviet and Russian diplomat were arrested Saturday on criminal charges related to their alleged violating and conspiring to violate the International Emergency Economic Powers Act (IEEPA) and conspiring to commit money laundering and money laundering.

Mun Chol Myong (Mun), 55, a national of the Democratic People’s Republic of Korea (DPRK), was sentenced today in the U.S. District Court for the District of Columbia to time served of 45 months’ imprisonment for multiple money laundering offenses.

Two businessmen, Vladislov Ospiov, 51, a dual Russian and Swiss national, and Richard Masters, 52, a United Kingdom national, are charged in separate indictments unsealed today in the U.S. District Court for the District of Columbia, with facilitating a sanctions evasion and money laundering scheme in relation to the ownership and operation of the Motor Yacht (M/Y) Tango (International Maritime Organization number 1010703), a $90 million, 255-foot luxury yacht owned by sanctioned Russian oligarch Viktor Vekselberg.

A complaint was unsealed this morning in federal court in Brooklyn charging Anatoly Legkodymov, a Russian national and senior executive of Bitzlato Ltd. (Bitzlato), a Hong Kong-registered cryptocurrency exchange, with conducting a money transmitting business that transported and transmitted illicit funds and that failed to meet U.S. regulatory safeguards, including anti-money laundering requirements. Legkodymov was arrested last night in Miami and is scheduled to be arraigned this afternoon in the U.S. District Court for the Southern District of Florida. French…

Britain’s government stood accused Wednesday of actively undermining talks with union leaders in a bid to encourage strike action and depress workers’ wages across the economy. The government was hoping for a public backlash, to justify newly introduced legislation that would force unions to provide a “minimum service” in public sectors, railway union leaders said. The allegation came as ambulance drivers and paramedics staged another walkout, prompting warnings of serious risk to the public — part of a wave of…

Ukrainian oligarch Konstantin Zhevago, accused of embezzlement and money laundering, was arrested at an elite French ski resort. Zhevago was arrested by French law enforcement at the request of the Ukrainian State Bureau of Investigation, the agency said Wednesday in a statement. French and Ukrainian law enforcement had been cooperating on the case for months before the oligarch’s arrest. The former head of Ukraine’s “Finances and Credit” group, Zhevago is accused of “organizing a mechanism for the embezzlement” of $113…

An internal investigation by parent company ByteDance confirms that employees obtained personal data from reporters who were probing Beijing’s influence on the app’s activities ByteDance, the Chinese technology giant that owns TikTok, admitted Thursday that several employees of the social network spied on journalists from Forbes magazine who were investigating the link between the company’s US branch and China. The information first came to light in October but was confirmed on December 23 by Forbes, which had access to an…

German authorities said on Thursday they had arrested an employee of its foreign intelligence service (BND) on suspicion of sharing state secrets with Russia this year and thereby committing treason. Police arrested the suspect, a German citizen identified as Carsten L, on Wednesday in Berlin, the federal prosecutors office said. It said police also raided his flat and workplace as well as those of another person. “The accused is suspected of state treason,” federal prosecutors said in a statement. “In…

The Kremlin on Thursday accused Kyiv and Washington of turning a deaf ear to its concerns and charged the United States was using Ukraine as a battleground to weaken Russia. It came as President Vladimir Putin insisted Russia was aiming for a speedy end to the fighting. “Our goal is… to end this conflict. We are striving for this”, he told reporters. “We will seek to make sure that it all ends, and the sooner, the better. “All conflicts end,…

Turkey on Tuesday lashed out at Sweden’s refusal to extradite a top reporter that Ankara has demanded in exchange for its ratification of Stockholm’s NATO membership bid. President Recep Tayyip Erdogan wants Sweden to return dozens of people that he suspects either of involvement in a failed 2016 coup or of membership of a banned Kurdish militia that Washington and the European Union designate as “terrorists”. But the now-closed Today’s Zaman newspaper’s editor-in-chief Bulent Kenes was the only person Erdogan…

North Korea said Monday it fired a test satellite in an important final-stage test for the development of its first spy satellite, a key military capability coveted by its leader Kim Jong Un along with other high-tech weapons systems. The North’s official Korean Central News Agency also released low-resolution, black-and-white photos showing a space view of the South Korean capital and Incheon, a city just west of Seoul, in an apparent attempt to show the North is pushing to acquire…

Danske Bank A/S (Danske Bank), a global financial institution headquartered in Denmark, pleaded guilty today and agreed to forfeit $2 billion to resolve the United States’ investigation into Danske Bank’s fraud on U.S. banks. According to court documents, Danske Bank defrauded U.S. banks regarding Danske Bank Estonia’s customers and anti-money laundering controls to facilitate access to the U.S. financial system for Danske Bank Estonia’s high-risk customers, who resided outside of Estonia – including in Russia. The Justice Department will credit…

Publicly filed court documents, including a 16-count indictment unsealed today in Brooklyn, charge five Russian nationals – including a suspected Federal Security Service (FSB) officer – and two U.S. nationals with conspiracy and other charges related to a global procurement and money laundering scheme on behalf of the Russian government in which the defendants allegedly conspired to obtain military-grade and dual-use technologies from U.S. companies for Russia’s defense sector, and to smuggle sniper rifle ammunition, in violation of new U.S….

The investigation and enforcement of potential sanctions violations by crypto exchanges is an area of focus in the US at present.  The US Department of the Treasury’s Office of Foreign Assets Control’s (OFAC) recent settlement with Kraken, a global virtual currency exchange, is the most recent OFAC case demonstrating the risks for virtual currency platforms that process transactions without comprehensive sanctions controls.  Kraken agreed to pay USD 362,158.70 to settle its potential civil liability for alleged breaches of the Iranian…