International

Enforcement

Australia: Three Law Firms Join Forces for Medibank Class Action

By Editors | 19/01/2023

The class action seeks compensation for Medibank customers who had their personal and health data stolen by Russia-linked hackers in last year.

Capital / Liquidity

Implementation of 2013 NBFI Reforms Are Incomplete: FSB

By Editors | 19/01/2023

Jurisdictions have not finished implementing Basel III reforms to mitigate spillovers between banks and non-bank financial entities.

AML / KYC

Authorities Dismantle Russia-Linked Crypto Firm Bitzlato

By Manesh Samtani | 18/01/2023

Bitzlato facilitated $700mn in crypto transfers for Hydra users and received more than $15mn in ransomware proceeds.

ESG / Sustainability

Taskforce Introduces Framework to Mobilise Investment Capital

By ESG Investor | 18/01/2023

The framework aims to ensure investors are not simply disinvesting from more difficult sectors, particularly in emerging economies.

Enforcement

Singapore: Ex-Agritrade CFO Sentenced to 20 Years Jail

By Editors | 17/01/2023

The former CFO instructed subordinates to submit false financial statements to banks in Japan, South Korea, India and Taiwan to obtain trade financing.

Crypto / Digital Assets

Iran, Russia Working on Gold-Backed Stablecoin – Report

By Editors | 17/01/2023

The stablecoin is intended to serve as a payment method for foreign trade without requiring the use of any fiat currency.

Crypto / Digital Assets

BitConnect Victims Receive $17mn Restitution from Crypto Fraud

By Editors | 16/01/2023

BitConnect was an online crypto lending platform that collapsed in 2018, causing investor losses estimated at over USD 2.4 billion.

ESG / Sustainability

IAASB Begins Work on Global Standards for ESG Assurance

By ESG Investor | 16/01/2023

New globally accepted standards aim to improve investor confidence and “reduce the risk of material misstatements”.

ESG / Sustainability

Companies Rally Behind Carbon Credits, Survey Finds

By ESG Investor | 15/01/2023

A survey of more than 500 medium to large businesses across the US, UK and Europe found that 89% of companies view carbon credits as a valuable tool to mitigate CO2 emissions.