Enforcement

Enforcement

AFCA Sees High Volume of Complaints Continue

By Sanday Chongo Kabange | 25/07/2025

Australia's complaints body is calling for mandatory scam codes and highlights the need for a compensation scheme as complaint volumes remain "unacceptably high".

Enforcement

Australian Police, Banks Issue Joint Warning on Money Mule Accounts

By Manesh Samtani | 25/07/2025

ABA CEO Anna Bligh described the use of mule accounts as a "key tactic in a criminal’s playbook" and effectively a "getaway vehicle" for scammers.

Enforcement

US PCAOB Revokes Hong Kong Audit Firm's Registration

By Manesh Samtani | 24/07/2025

Centurion ZD CPA & Co. and its owner have been permanently barred after the PCAOB found major violations in the 2021 audit of Luckin Coffee.

Enforcement

New Zealand Debt Collector Fined for Misleading Conduct

By Sanday Chongo Kabange | 24/07/2025

Law Debt Collection and its director, John Stuart Campbell, were prosecuted by the Commerce Commission for wrongfully threatening debtors with credit defaults.

Fintech / Regtech

Korea’s FSS to Impose "Severe Penalties" on Payment Firms Linked to Fraud

By Nithya Subramanian | 24/07/2025

Criminal investigations are underway after the FSS uncovered illegal activities at several payment gateway firms, including laundering of phishing funds and fraudulent loans.

Enforcement

New Zealand Regulator Clears Banks of Cartel Conduct in Climate Alliance Probe

By Sanday Chongo Kabange | 24/07/2025

The Commerce Commission found no evidence that five banks coordinated lending policies under the Net-Zero Banking Alliance framework.

Enforcement

ASIC Puts Bank Boards on Notice Over AI Risks and Governance

By Sanday Chongo Kabange | 24/07/2025

ASIC has warned that existing financial services laws apply directly to AI, placing the onus on boards to manage risks of consumer harm.

Enforcement

Hong Kong SFC Secures Compensation for Clients of Fraudulent Brokerage

By Sanday Chongo Kabange | 24/07/2025

The SFC says court-appointed administrators have distributed assets to clients of Hong Kong Wan Kiu Investment.

Enforcement

UK Supreme Court Overturns Rate-rigging Convictions of Ex-Traders

By Nithya Subramanian | 24/07/2025

Tom Hayes and Carlo Palombo, once jailed for manipulating benchmark interest rates, have had their convictions overturned due to legal errors in their trials.