Enforcement

AML / KYC

Hong Kong, Macao Authorities Arrest Seven in Joint Operation

By Sanday Chongo Kabange | 23/08/2024

The SFC, ICAC and the Macao Judiciary Police arrested seven individuals for suspected fraud, including the chairman of a listed company.

Securities / Derivatives

US SEC Fines Transfer Agent for Failure to Guard Against Cyber Fraud

By Editors | 23/08/2024

The transfer agent’s failures led to more than $6.6mn in losses from two separate cyber intrusions, one of which involved Hong Kong bank accounts.

Enforcement

Latvia Extradites Citizen to Face US Charges for Russian Exports

By Editors | 22/08/2024

Oleg Chistyakov conspired with two US nationals to sell sophisticated avionics equipment to Russian companies, in violation of sanctions.

AML / KYC

South Korea Implements Measures to Prevent Insurance Fraud

By Editors | 22/08/2024

South Korea has intensified its efforts to combat insurance fraud with the enactment of new laws and extensive public awareness campaigns.

Enforcement

PwC Braces for Potential 6-Month Ban in China – Reports

By Editors | 22/08/2024

PwC is reportedly preparing for a potential 6-month ban in China over its audit of troubled property developer China Evergrande Group.

AML / KYC

Singapore Jails Former Healthcare Execs for Defrauding Banks

By Ranamita Chakraborty | 22/08/2024

Maybank, Standard Chartered, DBS, UOB, Citibank, and HSBC were defrauded of SGD 69 million through the use of forged documents.

Enforcement

Polish National Arrested in Montenegro for Crypto Fraud

By Mark Johnston | 22/08/2024

Both Poland and South Korea are seeking the extradition of crypto founder Roman Zimian to face fraud and money laundering charges.

AML / KYC

Singapore Advisory Panel Calls for Stronger Penalties to Deter Scams

By Nithya Subramanian | 22/08/2024

The panel recommends a minimum six-month jail term for those who allow scammers to control their Singpass or bank accounts.

Enforcement

US SEC’s WhatsApp Probe is Not Yet Over – Report

By Manesh Samtani | 21/08/2024

Penalties still expected against companies including BlackRock, Invesco, Charles Schwab, Blackstone, Apollo Global, Moody’s and S&P Global Ratings.