Penalties
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Blog
KuCoin to pay nearly $300 million in penalties after guilty plea
KuCoin’s operator, PEKEN Global Limited, pleaded guilty to operating an unlicensed money-transmitting business and agreed to pay $297 million in penalties to settle charges in the U.S. The cryptocurrency exchange was charged in March 2024 for its failure to implement the required anti-money laundering (AML) requirements, allowing cybercriminals to use the platform to launder their proceeds. According to the U.S.…
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Blog
New Payroll Compliance Penalties Driving Tech Adoption in Australia, Says Yellow Canary
A new survey by payroll tech firm Yellow Canary found that just 22% of Australian businesses have adopted proactive payroll compliance technology. Still, more may follow as they seek to reduce the legal and business risk of underpaying employees. Intentional employee underpayments were made a criminal offense on Jan. 5 following amendments to Australia’s Fair Work legislation, with individuals and…
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