Tag: South Korea
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South Korea launches interagency investigation team to tackle rising crypto crimes
NEWS: KPMG South Korea fined $350,000 (€344,505) by US accounting watchdog
Regulatory Watch News
FinCEN Proposes Rule to Pay Whistleblowers
FinCEN
Major Milestone in Implementing Whistleblower Program to Fight Illicit Finance WASHINGTON—Today, the U.S. Department of the Treasury’s Financial Crimes Enforcement Network (FinCEN) submitted to the Federal Register a Notice of Proposed Rulemaking (NPRM) to fully implement a whistleblower program by establishing a framework for offering incentives and protections to encourage individuals to report tips on fraud-related violations of the Bank Secrecy Act, U.S. sanctions programs administered by Treasury’s Office of Foreign Assets Control, and several other laws critical to safeguarding the U.S. financial system and national security. “As promised, Treasury will reward whistleblowers who provide timely, actionable information on fraud, sanctions violations, and other significant illicit finance activity,” said Secretary of the Treasury Scott Bessent. “President Trump has been clear that Americans have a right to know that their tax dollars are not being diverted to fund acts of global terror or to fund luxury cars for fraudsters. At Treasury, we follow the money, and we strongly encourage individuals to come forward with credible tips to help safeguard our financial system.”
Guns-for-cannabis network hit: Europol high-value target arrested in international action
Europol
A Europol high-value target has been arrested and key members of his criminal network targeted during a coordinated action on 23 March across Spain, Bulgaria and Greece. The network is suspected of trafficking firearms from the Western Balkans and Türkiye into the European Union, exchanging them for cannabis and fuelling organised crime across multiple Member States.
Actions taken by the Office of Financial Sanctions Implementation (OFSI) to enforce financial sanctions against Apple
OFSI
Apple Distribution International Limited (ADI)
Date 30 March 2026 Sector Technology Penalty £390,000 Reason Making funds available to a designated person without a licence Regulations Regulation 12 of the Russia (Sanctions) (EU Exit) Regulations 2019 (the “Russia Regulations”).
