Banking & Finance

APRA Consults on Bank Capital and Liquidity Reforms

The Australian Prudential Regulation Authority (APRA) is consulting on reforms to bank capital and liquidity settings. The proposed changes aim to enhance the resilience of Australia's financial system by updating liquidity frameworks to align with international practice and making the capital framework more risk-sensitive. The reforms are expected to be broadly cost-neutral for the industry.

APRA Remarks on Australia's Financial System Vulnerabilities

APRA Chairman John Lonsdale delivered remarks at the 2026 AFR Banking Summit, outlining vulnerabilities in Australia's financial system and announcing plans to strengthen liquidity frameworks for large banks. Measures are also proposed to ease regulatory burdens for smaller banks.

Canada Revenue Agency - Bookkeeper Convicted for GST/HST Evasion

The Canada Revenue Agency announced that Aeddy Leung, a bookkeeper from Surrey, British Columbia, received a conditional sentence order and probation for willfully evading nearly $1 million in GST/HST. Leung pleaded guilty to filing false returns and failing to file returns for hotels he managed.

OSC charges Rumble, Dziedzic, Foss with fraud over $11 million

The Ontario Securities Commission (OSC) has charged Ryan Rumble, Michael Dziedzic, and Justin Foss with fraud over $5,000 and other offenses. The charges relate to Banknote Capital Inc., where the individuals allegedly defrauded investors of over $11 million between November 2020 and August 2023.

Project Glacier Dismantles Criminal Organization, Six Charged

ALERT's Project Glacier investigation concluded with six individuals charged for drug trafficking and organized crime offences in Grande Prairie. Over $283,000 in drugs and cash were seized, including firearms.

Director Sentenced for Tax Evasion and Fined $128,101

The Canada Revenue Agency announced that Henry Grant Wetelainen, a director of a Thunder Bay mining company, was sentenced to a conditional sentence and fined $128,101 for tax evasion. The investigation revealed significant undeclared income and unremitted GST/HST.

Money Laundering Operation - Arrests and Seizures

Calgary police arrested four individuals in connection with a $9 million money laundering operation involving anabolic steroids. The investigation, which began in 2020, uncovered an illegal manufacturing lab and significant seizures of drugs, currency, and jewelry.

Drug Trafficking Operation Report

The Sûreté du Québec, in collaboration with multiple police forces, reported on a large-scale drug trafficking operation targeting a network linked to the Hells Angels. The operation resulted in significant seizures of drugs, currency, and weapons, with nearly 220 officers mobilized.

BaFin Investigates Fides Ventures and Nexquant for Unauthorized Business

BaFin is investigating Fides Ventures and Nexquant for offering financial and cryptoasset services without authorization. The companies are allegedly using WhatsApp groups and a crypto exchange to solicit German investors for unauthorized financial instruments and cryptoassets.

BaFin Warns Consumers About Obsidian Group Website

BaFin, the German financial regulator, has issued a warning to consumers regarding the website obsidian-group(.)org. The site is suspected of offering financial, investment, and cryptoasset services without the necessary authorization from BaFin.