Enforcement

AML / KYC

India ED Has Pursued Over 5,000 ML Cases Since 2014

By Ajoy K Das | 08/08/2024

Minister of State for Home Affairs Nityanand Rai said 40 convictions have been secured under the the Prevention of Money Laundering Act.

AML / KYC

Taiwan FSC Imposes AML Fine on Crypto Firm Rybit

By Editors | 07/08/2024

Rybit failed to properly conduct customer risk assessments, confirm customer identities, and retain complete records, among other violations.

AML / KYC

Singapore Parliament Passes Bill to Strengthen AML Regime

By Nithya Subramanian | 07/08/2024

The amendment bill will enable STRO to access more intelligence from government agencies and make it easier for prosecutors to pursue cases.

Enforcement

Chinese State-Owned FIs Instructed to Drop PwC – Report

By Editors | 07/08/2024

BOC, China Life Insurance, and PICC are among more than 30 listed Chinese companies that have dropped PwC as their auditor this year.

Enforcement

Malaysia SC Fines Fund Consultant for Breaching Securities Laws

By Sanday Chongo Kabange | 06/08/2024

The former Kenanga Investors Berhad consultant misappropriated investor funds and provided falsified statements of accounts.

Enforcement

Evergrande Seeking to Recover $6bn from Former Executives

By Manesh Samtani | 06/08/2024

The lawsuit, which includes founder Hui Ka Yan as a defendant, was filed in March but only now revealed after a confidentiality order was lifted.

Enforcement

Hong Kong’s Insurance Authority Fines AIA for AML Lapses

By Sanday Chongo Kabange | 06/08/2024

The IA fined AIA’s Hong Kong branch after an inspection identified shortfalls in its AML controls and processes.

Enforcement

HK Court Convicts Ex-Sunway Employee for Money Laundering

By Sanday Chongo Kabange | 06/08/2024

The former PA helped his boss to launder HK$125mn that was unlawfully obtained through loans from HK-listed Sunway Intl Hldgs.

Enforcement

APRA Removes NM Super’s Additional Licence Conditions

By Sanday Chongo Kabange | 06/08/2024

The additional licence conditions were imposed by APRA in 2019 over governance and risk management concerns.