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ENFORCEMENT
AML / KYC
China Issues Draft Rules Promising Strict Penalties for Fraudsters
By Editors | 16/11/2023
Individuals who commit fraud can have their bank accounts and communication services suspended, and their offences included in the national financial credit information base.
AML / KYC
Taiwan Crypto Exchange Caught in Money Laundering Probe
By Editors | 16/11/2023
Crypto exchange Bitgin is under investigation and its chief operating officer has been arrested for his alleged ties to a money laundering network.
Enforcement
US, UK Tout “Enhanced Partnership” on Sanctions
By Editors | 16/11/2023
US and UK sanctions authorities have worked closely together over the past year as the UK continues to define its post-Brexit sanctions regime.
Enforcement
OFAC Probes Shipping Companies as Russia Circumvents Oil Sanctions
By Editors | 15/11/2023
US Treasury sent letters to companies seeking information about 100 vessels, according to a Reuters report.
Crypto / Digital Assets
ASIC Sheds Light on Losses Recovered for Retail Derivatives Investors
By Sanday Chongo Kabange | 13/11/2023
Seven CFD issuers and Binance Australia Derivatives paid A$17.4mn in compensation to over 2,000 retail clients since March 2021.
Enforcement
China Imposes Industry Wide Obligations to Prevent Crime Within Banks, Insurers
By Editors | 13/11/2023
New NFRA notice requires the establishment of internal controls and governance structures specifically designed to prevent criminal cases involving banks and insurers.
Enforcement
Korea FSS Fines Woori Over Fresh Embezzlement Case
By Sanday Chongo Kabange | 13/11/2023
Woori’s latest embezzlement case involves an employee who stole over KRW 200 million from the bank.
Enforcement
Former China Citic Bank President Gets Suspended Death Sentence
By Editors | 13/11/2023
A former China Merchants Bank president also pleaded guilty to bribery charges last week, and a new probe was launched into a former ICBC vice president.
Enforcement
CSRC Probes Singapore Unit of Chinese PE Firm Hillhouse Capital
By Editors | 13/11/2023
The CSRC is investigating whether HHLR Management violated share transfer rules by disposing of shares in LONGi Green Energy Technology.
Enforcement
ASIC Fines HESTA Super Fund for “Misleading” Advertising
By Editors | 13/11/2023
HESTA performance figures used in Facebook and Instagram ads and in a webinar did not specify the period the figures related to.
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