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Tag: Habanero Systems

September 10, 2022

Novum Bank Of Dutch Billionaire Marcel Boekhoorn Fined By Maltese AML Regulator!

The Maltese-registered Novum Bank was fined €89,156 by the Financial Intelligence Analysis Unit (FIAU) in August 2022, following an onsite compliance review that was carried out in 2019. It is unknown why FIAU waited more than three years to dish out the fine. The Malta-based bank owned by the Dutch billionaire Marcel Boekhoorn has been fined by FIAU for shortcomings in its efforts to detect potential money laundering. Novum Bank was ordered to tighten up its checks on clients.

June 5, 2022

Malta’s MGA CEO Carl Brincat Ignorantly Calls Habanero Due Diligence A “Shitshow”!

The Malta Gaming Authority issued a gaming company's license knowing its ultimate beneficial owner was facing prosecution in Italy for financial crimes. According to documents received by Fintelegram, MGA was aware of criminal investigations against Marcel Boekhoorn and his Habanero Systems Limited during the licensing procedure. In 2019, the Durch billionaire Boekhoorn was accused by prosecutors in Reggio Calabria, Italy, of using "money, goods or assets of illicit origin."

April 13, 2022

Embarrassing: And Malta Gaming Authority official is investigated for basketball match-fixing

How much disgrace and national damage can regulators produce? In Malta, a lot! A Malta league basketball match is the subject of a major police investigation in Malta. The smallest EU country is well-known as a hub for gaming companies. One of the match players, Anton Axiaq, happens to be a Malta Gaming Authority (MGA) official. He works within the IT section. Maltese media reported that a criminal police investigation is underway.

Solaris Bleeds Cash and Jobs: Can This High-Risk Fintech Survive, Let Alone IPO?

Solaris, a German fintech and neobank, has a long history of compliance troubles. Moreover, its ongoing financial losses and regulatory woes doubt its long-term profitability, even as it sheds jobs and restructures for survival. A potential IPO, as rumored by the German platform Gründerszene, seems speculative at best in light of its deep-rooted issues with compliance and financial stability.

Breaking: The Binance-Like $3.1 Billion Money Laundering Settlement of TD Bank!

TD Bank, one of North America's largest financial institutions, has been hit with a historic $3.1 billion settlement over money laundering violations. This case represents one of the most significant AML enforcement actions in U.S. history, both in terms of the financial penalties imposed and the severity of the admitted misconduct. Only Binance, with its $4.1 billion settlement, was even larger.

Gotbit and Russian Executives Charged by U.S. DOJ and SEC for Crypto Market Manipulation!

Gotbit Consulting LLC, along with its Russian executives, has been charged by the U.S. DOJ and SEC for its role in a widespread market manipulation scheme. By using wash trades, Gotbit inflated crypto asset prices and volumes, deceiving investors and raising millions in illicit profits. The company’s fraudulent activities were executed across multiple jurisdictions, with key figures now facing extradition and prosecution.

SEC Charges Market Manipulators in Crackdown on Crypto Asset Fraud

The U.S. SEC has charged three market makers and nine individuals for manipulating the crypto asset market, generating artificial trading volumes and misleading retail investors. The fraudulent schemes created the illusion of active markets, prompting unsuspecting investors to pour money into manipulated crypto assets. The DOJ filed criminal charges against the scheme operators in a parallel transaction.

U.S. DOJ Charges 18 Individuals and Entities in Global Crypto Fraud Crackdown!

The U.S. DOJ has charged 18 individuals and entities in an international operation targeting market manipulation and fraud in the crypto industry. The defendants, including market makers and token promoters, are accused of using wash trading and false trading activity to deceive retail investors and artificially inflate crypto prices. This is the first major criminal case of its kind in the crypto market.