Category: Banking

Regulatory Watch News

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  National Security Division Announces First Declination Under the Department-wide Corporate Enforcement Policy

  US Department of Justice

  June 17, 2026

  The Justice Department announced today that it has declined the prosecution of Robert Bosch GmbH (Bosch), thereby resolving its investigation into an alleged scheme to send products and software manufactured with equipment that was the direct product of U.S. software or technology to an Entity-listed company in the People’s Republic of China (PRC). This decision was reached pursuant to Part I of the Department-wide Corporate Enforcement and Voluntary Self-Disclosure Policy (CEP), after also considering the factors set forth in the Department’s Principles of Federal Prosecution of Business Organizations. Bosch promptly disclosed the misconduct to the National Security Division (NSD), fully cooperated, and timely and appropriately remediated — which qualified them for a declination under the CEP, given that aggravating circumstances were absent Bosch has agreed to disgorge the $11,430,098 in profits it made as a result of the transactions at issue — a portion of which will be credited towards the $36,184,680 fine paid in a parallel civil action by the Department of Commerce.

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  New INTERPOL report highlights escalating cyber threats across Asia and South Pacific

  Interpol

  June 17, 2026

    SINGAPORE – INTERPOL’s 2025/2026 Asia and South Pacific Cyberthreat Assessment Report has revealed a dramatic increase in cybercrime across the region driven by rapid digitalization, new technologies and increasingly organized criminal networks. The report, covering the period from January 2024 to March 2025, found that more than half of the countries surveyed reported cybercrime now accounting for 30 per cent of all crimes recorded nationally. Cyber-scam techniques such as phishing have emerged as the most widespread and financially damaging form of cybercrime, with 33 per cent of countries reporting over 10,000 cases.

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  OFSI issues £1m penalty for Russia sanctions breaches in first circumvention case

  OFSI

  June 17, 2026

  Sabre Global Technologies Limited (SGTL) Penalty

  OFSI has imposed a £1,000,920.59 monetary penalty on Sabre Global Technologies Limited (SGTL), its largest monetary penalty in relation to Russia sanctions since the 2022 invasion. Between May and December 2022, SGTL continued to provide services to a designated entity and sought to receive payments after designation, including exploring alternative payment routes which amounted to circumvention of UK sanctions. This case was assessed as “most serious” with aggravating factors including deliberate circumvention, high breach value, repeated and extended breaches, and substantial risk of harm to the objectives of the UK’s Russia sanctions regime.