Enforcement

Enforcement

MAS Issues Prohibition Order Against Ex-HSBC Banker for Disclosure Failure

By Nithya Subramanian | 20/08/2024

The former relationship manager failed to disclose to HSBC that he had been the subject of police investigations and criminal proceedings.

AML / KYC

Singapore, Malaysia Dismantle Money Laundering Syndicate

By Nithya Subramanian | 20/08/2024

Malaysian police arrested 12 individuals for suspected money laundering using Singapore bank accounts. One of the individuals was charged in Singapore this week.

Enforcement

US SEC Fines Billionaire Investor Carl Icahn for Disclosure Failures

By Editors | 20/08/2024

Carl Icahn failed to disclose pledges of more than half of his stock in publicly traded Icahn Enterprises for billions of dollars in personal margin loans.

Enforcement

FSS Korea Assessing Data Protection at Naver Pay & Toss

By Editors | 20/08/2024

KakaoPay shared customer credit information with Alipay without consent. The FSS is assessing whether Naver Pay and Toss had similar breaches.

Enforcement

ASIC Stands Firm Despite Mounting Criticisms of Failures

By Natasha Teja | 20/08/2024

An inquiry into ASIC’s capacity and capability identified a need for reforms, but these appear to be contingent on next year’s elections.

AML / KYC

China’s Top Court Issues Guidelines on Money Laundering Cases

By Manesh Samtani | 19/08/2024

Concealment or disguise of criminal proceeds, including through the use of virtual assets, will be punished as money laundering offences.

Enforcement

Korean Expands Probe into Unfair Practices in ETF Market

By Editors | 19/08/2024

The FSS is investigating whether asset managers had help from group affiliates to increase the net asset values of ETFs they issued.

AML / KYC

Hong Kong Court Sets Precedent for Crypto Transparency

By Manesh Samtani | 19/08/2024

The court ordered defendants in a crypto fraud and mismanagement case to provide detailed information about their holdings and transactions.

AML / KYC

Lithuania Intensifying Crackdown on Sanctions Evasion Activities

By Editors | 19/08/2024

Over 50 investigations relating to sanctions breaches have been opened in Lithuania. Rulings in several cases have already been issued.