ENFORCEMENT

Enforcement

Australian Court Rules Payday Lenders Breached Credit Act

By Sanday Chongo Kabange | 27/05/2024

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

Enforcement

MAS Bans Three Insurance Agents for Falsifying Records

By Nithya Subramanian | 27/05/2024

Three former Prudential insurance agents falsified records and furnished false information to the regulator.

Crypto / Digital Assets

Woman Jailed in UK in Bitcoin Laundering Case

By Mark Johnston | 27/05/2024

At sentencing on Friday, the judge said Jian Wen ought to have known that she was dealing with criminal property.

AML / KYC

Malaysia’s 1MDB Files Suit Against Top PetroSaudi Official

By Nithya Subramanian | 24/05/2024

The lawsuit seeks the return of $1.83bn, claiming 1MDB was misled into thinking King Abdullah owned a joint venture it invested in.

Enforcement

HK: Insider Trading Prosecution May Prompt Hedge Fund Closure

By Editors | 24/05/2024

“It is in the best interests of our investors to return their capital in an orderly manner,” a Segantii spokesperson said.

AML / KYC

Singapore Secures Seventh Conviction in Money Laundering Case

By Nithya Subramanian | 24/05/2024

Cambodian national Chen Qingyuan, who is wanted in China, has been sentenced to a 15-month jail term and will forfeit S$21mn.

Enforcement

FCA Fines HSBC for Failures in Treatment of Customers

By Editors | 24/05/2024

The bank was fined GBP 6.3 million, on top of investing GBP 94 million to correct the issues and paying redress worth GBP 185 million.

Enforcement

Worldcoin Ordered to Cease Iris-Scanning in Hong Kong

By Sanday Chongo Kabange | 24/05/2024

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

Enforcement

CFTC Fines JPMorgan $200m Over Trade Surveillance Gaps

By Editors | 24/05/2024

Half of the penalty will be offset by resolutions made with the OCC and Federal Reserve Board in March.