Enforcement

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    Sanctions

    Hong Kong Has Become a Sanctions Evasion Hub: Report

    By Manesh Samtani | 24/07/2024

    New report says Hong Kong has emerged as a “global centre for illicit finance and trade” and the city’s banks should be sanctioned.

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    AML / KYC

    US Authorities Recover Another $85m in 1MDB Case

    By Nithya Subramanian | 24/07/2024

    The DOJ secured the recovery of a Swiss financial account along with diamond jewellery and artwork worth a combined $85mn.

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    Enforcement

    Hong Kong Court Jails Three in Landmark Manipulation Case

    By Sanday Chongo Kabange | 23/07/2024

    The jail sentences are the heaviest and longest imposed for market manipulation since the SFO came into effect in 2003.

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    Capital / Liquidity

    APRA Requires OnePath Custodians to Pay A$10.7m

    By Sanday Chongo Kabange | 23/07/2024

    Deputy Chair Margaret Cole said APRA’s patience for entities who are still struggling with foundational issues has “run out”.

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    Enforcement

    SC Malaysia Warns of Investment Scams Involving Deepfakes

    By Nithya Subramanian | 23/07/2024

    The regulator has asked the public to be vigilant in evaluating investment offers, and not transfer money into suspicious accounts.

    Enforcement

    TAIFEX Amends Rules to Increase Penalties for Violations

    By Editors | 23/07/2024

    The amendments aim to enhance information security standards within futures firms, and better align with penalties in the securities market.

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    AML / KYC

    Philippines Enacts Anti-Financial Account Scamming Act

    By Editors | 22/07/2024

    The law institutionalises penalties for social engineering-related crimes and online scams, including the use of mule accounts.

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    Sanctions

    OFAC Issues Guidance on Extended Statute of Limitations

    By Editors | 22/07/2024

    OFAC plans to extend record-keeping requirements from five to ten years, to match the new statute of limitations period.

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    Enforcement

    Korea FSS Punishes Brokerage Firm for Mis-selling PE Funds

    By Editors | 22/07/2024

    Shinyoung Securities failed to properly explain the investment risks to customers when selling Lime and Discovery private equity funds.

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    Enforcement

    MUFG Pledges to Prevent Recurrence of ‘Firewall’ Breaches

    By Editors | 22/07/2024

    MUFG will cut the pay of several top executives and has pledged to implement specific improvement measures to prevent any recurrence.

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