Enforcement

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.

AML / KYC

Singapore Freezes 300 Suspicious OCBC Accounts, Seizes S$1.8m

By Nithya Subramanian | 21/08/2024

A joint operation revealed bank accounts were used to layer scam proceeds, which obscured fund sources and facilitated money laundering.

Enforcement

HK Court Jails Ex-Sunway Employee for Laundering $125m

By Sanday Chongo Kabange | 21/08/2024

The court sentenced a personal assistant to five years in prison for helping his boss unlawfully obtain loans from a listed company and launder the proceeds.

Enforcement

China Issues Guidelines on Prosecutions in Financial Fraud Cases

By Editors | 20/08/2024

Organisations and individuals that provide a “one-stop financial fraud service” to companies or enterprises will be “severely punished”.

Enforcement

SFC Lifts Suspension of Changjiang Corporate Finance

By Sanday Chongo Kabange | 20/08/2024

The SFC said it is satisfied that Changjiang’s sponsor business now has adequate systems, controls, policies and procedures to enable compliance.

Enforcement

UK FCA Fines PwC for Failing to Report Fraud Suspicions

By Mark Johnston | 20/08/2024

This is the FCA’s first-ever fine against an auditor, imposed because PwC failed to report fraud suspicions to the regulator.

Enforcement

South Korea Enhances Measures Against Voice Phishing Frauds

By Mark Johnston | 20/08/2024

New measures effective from 28 August will require FIs and prepaid providers to share information and introduce more controls to guard against fraud.