Enforcement

Enforcement

Former China Development Bank President Gets 20 Year Jail Sentence

By Editors | 29/01/2024

He Xingxiang was found guilty of taking bribes, providing bank guarantees illegally, issuing loans illegally, and concealing offshore bank deposits.

Enforcement

Japan FSA Issues Orders to Insurance Major Over Fraud Scandal

By Editors | 29/01/2024

Sompo Japan Insurance is required to draw up an improvement plan including steps to change its corporate culture, enhance customer protection, and improve governance.

Crypto / Digital Assets

Taiwan Expands Fraud Probe at Crypto Firm ACE Exchange

By Mark Johnston | 25/01/2024

Taiwanese prosecutors have expanded a crypto fraud investigation to include the president of ACE Exchange and four other suspects.

Enforcement

Former ICBC Official Expelled from Communist Party for Corruption

By Mark Johnston | 23/01/2024

Liu Lixian will have his illegal gains confiscated and his case transferred to prosecutors for further review.

AML / KYC

Singapore Money Laundering Case Tops S$3bn in Assets

By Editors | 22/01/2024

Warrants of arrest and Interpol Red Notices have also been issued against two more Cambodian nationals for money laundering offences.

Enforcement

US Regulators Fine ICBC New York Branch for Regulatory Violations

By Editors | 22/01/2024

ICBC disclosed confidential supervisory information without regulatory approval and had deficiencies in its BSA/AML compliance programme.

Enforcement

BNP Paribas Fined in Taiwan for Violating Insurance Regulations

By Editors | 22/01/2024

The FSC said BNP failed to fully separate its business units and outsourced information operations to the cloud without prior regulatory approval.

Enforcement

Australian Court Fines ME Bank for Misleading Home Loan Customers

By Editors | 19/01/2024

ME Bank sent inaccurate home loan information to its customers and failed to provide written notice about annual interest rate and repayment amount changes.

Enforcement

Korea Strengthens Mechanism for Punishing Unfair Trading

By Editors | 19/01/2024

The revisions introduce a new penalty surcharge system for unfair trading activities and establish a clear legal ground for calculating unfairly gained profits.