Fraud, Scams & Cybercrime

US, UK, South Korea Warn of DPRK Espionage Campaign

26/07/2024

Joint advisory says North Korean hacker group ‘Andariel’ is a threat to entities in the US, UK, South Korea, Japan and India.

Fraud, Scams & Cybercrime

HSBC Australia Blocks Payments to Crypto Exchanges

26/07/2024

The decision was made in light of data showing that Australians lost up to A$171mn in investment scams in 2023.

Market Abuse

Korea FSS Takes Action Against BNK Financial Group, Busan Bank

26/07/2024

The FSS found that executives and employees of both companies manipulated BNK Financial’s stock price when going through the process of a paid-in capital increase.

Payments & Settlements

Russia Progresses Bill to Allow Foreign Banks to Open Branches

26/07/2024

The bill would enable foreign banks to open branches in Russia which they could then use to settle cross-border payments.

Conduct, Culture & Accountability

Korea FSS Considers New Rules to Prevent Mis-selling

25/07/2024

Measures being considered would require banks to separate their sales channels for high-risk products from deposits and installment savings counters.

Credit Risk

China Urges “High Quality” Firms to Use Foreign Debt Financing

25/07/2024

Companies that qualify as “high-quality enterprises” and apply for foreign debt quotas will have their applications expedited.

Anti-Bribery & Corruption

China Establishes Anti-Corruption Body for Financial Sector

25/07/2024

The CCDI announced the establishment of a dedicated disciplinary body to tackle corruption in the financial sector.

PEPs & Sanctions

UniCredit Drops Part of Appeal Against ECB’s Russia Exit Orders

25/07/2024

UniCredit said it has received “sufficient clarity” from the ECB on certain parts of its application to the GCEU.

PEPs & Sanctions

Australia Imposes First Sanctions Against Israelis in West Bank

25/07/2024

Seven Israelis and a youth group were sanctioned for their involvement in violent attacks against Palestinian communities.