Category: Middle East

Regulatory Watch News

• 

  FINTRAC imposes an administrative monetary penalty on Binance Holdings Limited

  Fintrac

  May 9, 2024

    FINTRAC announced today that it has imposed an administrative monetary penalty on Binance Holdings Limited, also operating as Binance Holdings (IE) Ltd., Binance.com, Binance Global and Binance. This foreign money services business was imposed an administrative monetary penalty of $6,002,000 on May 7, 2024 for non-compliance with Part 1 of the Proceeds of Crime (Money Laundering) and Terrorist Financing Act and its associated Regulations.

• 

  Fraudulent website and internet banking login screen related to China CITIC Bank International Limited

  HKMA

  May 9, 2024

  The Hong Kong Monetary Authority (HKMA) wishes to alert members of the public to a press release issued by China CITIC Bank International Limited relating to a fraudulent website and an internet banking login screen, which have been reported to the HKMA.  A hyperlink to the press release is available on the HKMA website.

• 

  Defense Contractor Pleads Guilty to Fraud, Money Laundering and Unlawful Export of Military Data

  US Department of Justice

  May 8, 2024

  Yuksel Senbol, 36, of Orlando, pleaded guilty to 25 felony counts in Florida federal court, including conspiracy to defraud the United States, conspiracy to commit wire fraud, eight counts of wire fraud, conspiracy to commit money laundering, seven counts of money laundering, conspiracy to violate the Export Control Reform Act (ECRA), four counts of violating the ECRA, and one count of violating the Arms Export Control Act.