ENFORCEMENT

Enforcement

Philippines Weighs Total Ban on Online Gambling vs Tighter Rules

By Mark Johnston | 23/07/2025

The Philippines is weighing a potential ban on online gambling, balancing significant government revenues and job creation against mounting social concerns.

Enforcement

HKMA Fines Four FIs HKD 17.8M for AML and CDD Failures

By Sanday Chongo Kabange | 23/07/2025

The HKMA has penalised three banks and a stored value facility licensee for AML/CFT control deficiencies.

Enforcement

China Confirms Wells Fargo Exec Involved in 'Criminal Case'

By Editors | 23/07/2025

China has confirmed the US banker is part of a criminal probe. Reportedly, a US Commerce Department employee has also been subject to an exit ban since April.

Enforcement

AUSTRAC Announces Closure of Enforceable Undertaking with PayPal

By Sanday Chongo Kabange | 22/07/2025

AUSTRAC has cancelled its enforceable undertaking with PayPal after the company completed a two-year remediation plan.

Enforcement

ASIC Sues Fortnum Private Wealth Over Cybersecurity Failures

By Sanday Chongo Kabange | 22/07/2025

ASIC claims the financial advice licensee failed to manage cyber risks, exposing thousands of clients to data breaches.

Enforcement

SEBI Allows Jane Street to Resume Trading in Indian Market

By Nithya Subramanian | 22/07/2025

SEBI has directed the BSE and NSE to maintain close oversight of the firm’s trading activity to ensure there is no recurrence of the alleged manipulative patterns.

Enforcement

ASIC Investigates Predatory Practices in Debt Management Sector

By Sanday Chongo Kabange | 22/07/2025

ASIC will review around 100 licensed firms amid concerns that vulnerable consumers are being harmed by predatory industry practices.

Enforcement

Hong Kong Court Bans Former First Credit Director for Seven Years

By Sanday Chongo Kabange | 22/07/2025

The SFC secured the order for breaches involving an undisclosed de facto director and misleading fundraising announcements

Enforcement

Taiwan FSC Fines Three Crypto Firms for AML Breaches

By Nithya Subramanian | 22/07/2025

The firms were penalised for inadequate CDD, failure to file STRs, and improper handling of high-risk clients, raising red flags over AML controls in the tech sector.