Enforcement

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.

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.

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.

AML / KYC

Australian Senator Calls on AUSTRAC to Investigate TikTok

By Nithya Subramanian | 17/04/2024

TikTok’s platform was allegedly used to transfer money to accounts suspected of being linked to terrorist groups.

Enforcement

No Criminal Misconduct Found in EY’s Wirecard Audits

By Editors | 17/04/2024

EY could have faced unlimited liability for claims of damages from Wirecard’s administrator and former shareholders if criminal misconduct was found.

AML / KYC

Multiple US Regulators Probing Morgan Stanley’s Wealth Arm – Report

By Nithya Subramanian | 16/04/2024

US regulators are assessing whether the bank has sufficiently investigated the identities of clients and their sources of wealth.

Enforcement

SFC Orders Trading Suspension of Listed Fruit Products Seller

By Editors | 16/04/2024

The company was earlier ordered to reconstitute its board of directors and engage an independent manager over more than $60m in missing funds.

Crypto / Digital Assets

Three Crypto Firms Enter Into Liquidation in Australia

By Editors | 16/04/2024

A$55mn worth of assets belonging to a crypto fund operator have been frozen by court order, after investors became concerned about the fund’s management.

Enforcement

ASIC Commences Proceedings Against Blockchain Mining Companies

By Editors | 16/04/2024

The companies, without an AFS licence, encouraged investors to set up self-managed superannuation funds to then invest in blockchain mining packages and crypto.