ENFORCEMENT

Enforcement

FSS Korea Completes Inspections of CFD Businesses

By Editors | 30/07/2023

The FSS said it will take “stern measures” against illegal acts identified from the inspections, which covered three major securities firms.

AML / KYC

KoFIU is Ramping Up Efforts to Combat Crypto-related Crime

By Manesh Samtani | 30/07/2023

KoFIU will strengthen inspections, impose sanctions for violations, and disclose the results of investigations to promote legal compliance.

Enforcement

China Proposes Criminal Law Amendments Targeting Corruption

By Editors | 28/07/2023

The penalties for corruption offences are strengthened and now also apply to corruption-related crimes committed by insiders of private enterprises.

Enforcement

BNP Paribas Braces for Fine Over Unauthorised Messaging Usage

By Editors | 28/07/2023

BNP Paribas said in its mid-year earnings report that it expects a fine from the CFTC and SEC.

Enforcement

Taiwan Telecoms Fined for Failing to Prevent Exploitation by Scammers

By Sanday Chongo Kabange | 28/07/2023

Taiwan Star and Strait-Telecom were fined for failing to check and verify the identities of service applicants, a breach of the Telecommunications Management Act.

Crypto / Digital Assets

Singapore High Court Recognises Crypto as Personal Property

By Ranamita Chakraborty | 27/07/2023

The court ruled that holders of crypto assets have legally enforceable property rights under common law, marking a significant milestone in crypto case law globally.

Enforcement

Australia Fines Meta A$20m Over Misleading Data Usage Practices

By Editors | 27/07/2023

Australian Federal Court ordered Meta’s subsidiaries to pay AUD 20 million over deceptive consumer data usage, impacting over 270,000 users.

Enforcement

Korea Establishes Interagency Investigative Team for Crypto

By Manesh Samtani | 27/07/2023

Until new rules for the crypto sector come into force in 2024, the new investigative team will be charged with investigating unlawful trading activities.

Enforcement

Korea Prosecuting 33 Individuals Involved in Convertible Bond Abuse

By Sanday Chongo Kabange | 26/07/2023

Out of 40 cases detected, investigations have been completed in 11 cases. Criminal charges were against 33 suspects.