Anti-Money Laundering

Hong Kong Arrest 20 in Triad-Run Money Laundering Scheme

28/05/2024

The HKPF arrested 20 people for laundering HK$10mn through 17 bank accounts set up by foreign domestic helpers and controlled by triads.

Supervision & Enforcement

Australian Court Rules Payday Lenders Breached Credit Act

27/05/2024

The court ruled that Cigno Australia, BSF Solutions, and their directors engaged in unlicensed credit activity.

Trading & Investment

HKEX Forms Advisory Panel on Fixed Income and Currency

27/05/2024

The new advisory panel will advise HKEX on its fixed income and currency strategy and help the exchange further develop FIC business.

Fraud, Scams & Cybercrime

Australia: Scam Losses Have Declined Further

24/05/2024

Losses reported to Scamwatch, AFCX and ReportCyber declined in the January to March quarter, compared to the previous quarter.

Data Privacy

Worldcoin Ordered to Cease Iris-Scanning in Hong Kong

24/05/2024

The PCPD has determined that the Worldcoin project has breached Hong Kong’s personal data privacy law.

Anti-Bribery & Corruption

HK ICAC Signs Cooperation MoUs with UNODC, Four Countries

23/05/2024

The MoUs with the UNODC and the anti-corruption authorities of Kazakhstan, Mauritius, Saudi Arabia and South Africa will enhance anti-corruption cooperation.

Fraud, Scams & Cybercrime

Australia Anti-Scam Centre Publishes Fusion Cell Report

23/05/2024

The investment scam fusion cell succeeded in removing scam ads from digital platforms, taking down investment scam websites, and diverting scam calls to recorded warnings.

Fraud, Scams & Cybercrime

Hong Kong IA Bars Ex-Prudential Agent for 14 Years

22/05/2024

The IA said it found the agent’s conduct “so disgraceful” that it unanimously decided to elevate the penalty to a 14-year prohibition.

Anti-Money Laundering

NZ DIA, SkyCity Reach Settlement Over AML Breaches

22/05/2024

A penalty of NZD 4.16 million was proposed to the court to settle SkyCity’s liability over the AML breaches.