ENFORCEMENT

Enforcement

US DOJ Probes Adani Group Over Potential Bribery Allegations

By Mark Johnston | 18/03/2024

The latest probe delves into whether an Adani entity was involved in making payments to Indian officials for favourable outcomes on an energy project.

Enforcement

Hong Kong ICAC Charges CCB Banker for Taking Bribes

By Sanday Chongo Kabange | 17/03/2024

A former CCB Asia sales executive was charged for taking bribes to expedite the account opening process for six clients.

Enforcement

US Regulators Announce $350m Penalty for JPMorgan

By Editors | 15/03/2024

The action, taken to address trade surveillance deficiencies, requires the bank to seek regulatory approval to onboard any new trading venue.

Crypto / Digital Assets

SFC Issues Warning Against Crypto Products from Bybit

By Sanday Chongo Kabange | 15/03/2024

The warning refers to the Seychelles company Bybit Fintech Limited, and not the HK-incorporated Spark Fintech Limited, which has applied for an SFC licence.

Enforcement

RBI Seeks Information from Banks on Gold Loan Frauds

By Ajoy K Das | 15/03/2024

RBI asked banks to review their gold lending processes after some banks were found to have manipulated the system to meet gold loan targets.

Enforcement

Australian Court Rules Against ASIC in ‘Finder Earn’ Crypto Case

By Editors | 15/03/2024

The court ruled against ASIC’s contention that the crypto investment product known as ‘Finder Earn’ was a debenture and therefore required authorisation.

Enforcement

OFAC Penalises Swiss Bank for Apparent Sanctions Violations

By Editors | 15/03/2024

OFAC said EFG International caused US firms to process 873 securities-related transactions on behalf of sanctioned individuals.

Enforcement

APRA Removes NAB’s Capital Add-On for Operational Risk

By Sanday Chongo Kabange | 14/03/2024

APRA has removed the A$500mn capital add-on it imposed on NAB in 2019 to reflect higher operational risk identified in its risk governance self-assessment.

Enforcement

Global Leaders Announce International Pact to Combat Fraud

By Mark Johnston | 14/03/2024

The new international agreement includes the G7 and Five Eyes nations, along with Singapore and South Korea.