SP1 (ASX) If its about Crypto then Xinja is the bank not ISX

Originally posted by OzJ: ↑

Read this article about what got KAB busted if you're really interested in understanding why ISX is being queried about crytpo. Particularly since ISX is a KYC for crypto transactions, the same sort of company that KAB was busted for money laundering with, and ISX was also a KAB customer. It's a suspicious relationship, I suspect, when there would have been hundreds of other banks ISX could have used that were not busted for money laundering in partnership with businesses providing the same services as ISX.

https://outline.com/5PJzNG

"The bank allegedly was involved in money laundering and financial crime. Moreover, the bank apparently had serious shortcomings in the legally required KYC and AML check procedures. According to information provided to FinTelegram and EFRI, the bank was heavily involved in investment fraud via broker scams in close cooperation with payment services providers such as Moorwand, UPC Consulting, or ChargePay."

You'll find that the issues the Danes had with KAB are closely aligned to the questions that the ASX asked.

"The Marshall Islands-registered Capzone Invest was one of the 183 foreign companies that had an account in the KBH Andelskasse. The company was blacklisted by regulators for offering investment products without the respective permission. In December 2018, the Ukrainian police carried out a large-scale office raid in the company’s Kiev (Ukraine) offices on suspicion of binary options fraud. At least 12 more such foreign customers have allegedly been identified by the Danish authorities, a media report says.

The bank’s 183 foreign customers came from online casinos, cryptocurrency exchanges, FOREX trading platforms (including CFDs and binary options), cannabis retailers and a variety of payment services."

And of course the puzzling crypto questions from the ASX asked for these details:

"What percentage of ISX’s revenue for the quarter ended 30 September 2019 (based on unaudited management
accounts) was derived from customers in the following sectors:
a) FX?
b) CFD’s / options?
c) Gambling/wagering/casinos?
d) Payment/transaction services providers?
e) Other (e.g. online retailers)?"

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and thats all great, except ISX hasnt been named by any EU media, and has not received any notice from any regulator regarding KAB.

Im sure that a public company being investigated bby Danish Regulators, even if its Aussie, would still make news in Denmark, given the rest of the companies are UK and US (ie nto Danish)

Thanks for beating this up again, but its just fake news with regards to ISX

There is no investigation on this,

Only investigation is by ASIC on 'continuous disclosure'

The trolling needs to be more subtle mate.