Enforcement

    image

    Enforcement

    ECB to Order UniCredit, Raiffeisen to Cut Russia Business – Reports

    By Editors | 22/04/2024

    Italy’s UniCredit and Austria’s Raiffeisen Bank International are expected to be ordered by the ECB to  pare back their Russia business.

    image

    Enforcement

    Hong Kong AFRC Probing Whistleblower Allegations Against PwC

    By Editors | 22/04/2024

    The probe was prompted by an anonymous “whistle-blower report” circulating in the media which PwC says contains “inaccurate statements and false allegations”.

    image

    AML / KYC

    AUSTRAC Fines Eight Firms for Compliance Report Nonsubmission

    By Sanday Chongo Kabange | 22/04/2024

    AUSTRAC issued infringement notices to eight firms that failed to submit their annual compliance reports.

    image

    Enforcement

    OFAC Penalises Thai Petrochemical Firm for Sanctions Violations

    By Editors | 21/04/2024

    A unit of a Siam Cement Group subsidiary obfuscated the Iranian origin of polyethylene resin, causing US banks to unknowingly process transfers that violated sanctions.

    image

    Enforcement

    Australian Court Fines Macquarie for Inadequate Controls

    By Editors | 21/04/2024

    Macquarie failed to prevent a now jailed financial adviser from fraudulently withdrawing A$2.9mn from customer accounts between 2016 and 2019.

    image

    Crypto / Digital Assets

    Binance, KuCoin to Return to India as Compliant Crypto Exchanges

    By Ajoy K Das | 19/04/2024

    Binance will pay a $2mn penalty and return to India as a registered firm. Kucoin announced its return last month.

    image

    Enforcement

    MAS Bans Former Prudential Representative for 8 Years

    By Nithya Subramanian | 19/04/2024

    The former insurance agent used client funds for personal expenses rather than to pay the client’s premiums.

    image

    Enforcement

    Former PBOC Deputy Governor Pleads Guilty for Accepting Bribes

    By Editors | 18/04/2024

    Fan Yifei abused his positions and took bribes from 1993 to 2022, while at China Construction Bank, China Investment Corp, Bank of Shanghai and the PBOC.

    image

    Enforcement

    US SEC Blocks Staff Messaging on Mobile Devices

    By Editors | 17/04/2024

    The SEC is restricting access to SMS, iMessage, and third-party messaging applications on employees’ work mobile phones.

    image

    AML / KYC

    Third Man Jailed in Singapore’s Billion Dollar Money Laundering Case

    By Nithya Subramanian | 17/04/2024

    Chinese national Wang Baosen jailed for 13 months and required to forfeit over S$8mn in assets as part of his plea deal.

    JOIN OUR NEWSLETTER

    A daily selection of top stories from the Regulation Asia editorial team