Enforcement

ATO Has Stopped A$2.7b in Fraudulent GST Claims

17/08/2023

Fraudulent GST claims have led to more than 100 arrests, 10 convictions, and compliance actions taken against as many as 56,000 people.

Crypto / Digital Assets

FDIC Adds Crypto as Key Risk in Annual Review Report

17/08/2023

The FDIC says it has developed processes to engage in “robust supervisory discussions” with banks on crypto-asset risks.

Australia: Super Funds Call for Reforms to Tax Offset Scheme

17/08/2023

Twelve major industry super funds and Women In Super call for urgent LISTO reforms to avoid harming low-income workers.

Fintech / Regtech

China’s Non-bank Payment Sector Sees Shake-Up

17/08/2023

China’s third-party payment sector contracts, with prepaid card issuers exiting amid a stricter regulatory environment and dwindling business.

Fintech / Regtech

FSC Taiwan Releases Second 3-year Fintech Development Roadmap

17/08/2023

The first roadmap issued in 2020 has helped to shape a “friendly” fintech ecosystem and improve financial services, the FSC said.

AML / KYC

Ex-Sembcorp Marine Exec Charged in Singapore for Corruption Offences

17/08/2023

The former executive obtained or attempted to obtain bribes totalling more than SGD 202,000 over six years, the CPIB said.

Crypto / Digital Assets

Euronext Amsterdam Lists Europe’s First Spot Bitcoin ETF

16/08/2023

The ETF is managed by Jacobi Asset Management and uses the FT Wilshire Bitcoin Blended Price Index as its reference.

AML / KYC

Korea to Crack Down on Financial Crime Involving Capital Markets

16/08/2023

The FSS and National Office of Investigation have signed an MoU to strengthen cooperation on illegal activities in the capital market.

Sanctions

US Sanctions Three Entities Tied to Russia-DPRK Arms Deals

16/08/2023

The three entities are owned or controlled by a Slovakian arms dealer who was sanctioned by the US in March.