Enforcement

Enforcement

ACCC Fines HSBC for Disclosing Inaccurate CDR Data

By Sanday Chongo Kabange | 03/04/2024

HSBC failed to disclose complete mortgage interest rate details and accurate credit card balances in response to separate requests for this data made via the CDR.

Enforcement

Korean Banks Start Compensating Investors for HSCEI-Linked Losses

By Editors | 03/04/2024

KB Kookmin, Shinhan, Woori, Hana, NH NongHyup, StanChart, and Citibank all agreed to follow compensation guidelines issued by the FSS last month.

AML / KYC

AMLC Names and Shames DNFBPs That Have Failed to Register

By Sanday Chongo Kabange | 01/04/2024

The AMLC named one real estate developer and ten jewelry dealers that have failed to comply with their registration obligations.

Enforcement

HK Court Jails Former AXA Agents for Fraud, Money Laundering

By Sanday Chongo Kabange | 01/04/2024

The three former AXA insurance agents were sentenced for defrauding AXA of commissions and bonuses and for laundering the proceeds.

Enforcement

Two Ex-Sembcorp Marine Execs Charged in Singapore for Corruption Offences

By Editors | 01/04/2024

The two former executives face five charges over bribes paid to Brazilian officials and politicians to further the company’s business interests in the country.

Enforcement

Trafigura Agrees to Pay $126m to Settle FCPA Violations

By Editors | 01/04/2024

The DOJ says Trafigura bribed Brazilian officials from 2003 and 2014 to illegally obtain and retain business and reap over $61mn in profits.

Enforcement

Korea FSS to Seek Out and Expel ‘Zombie Companies’ from Market

By Editors | 01/04/2024

The FSS says companies that use false capital injections and accounting fraud to avoid delisting are impeding the financing of productive companies.

Crypto / Digital Assets

FTX Founder Sam Bankman-Fried Sentenced to 25 Years

By Editors | 31/03/2024

The judge also ordered the forfeiture of more than $11bn for properties and assets Bankman-Fried bought with customer funds.

Crypto / Digital Assets

Korea Sets Out Procedures for Dealing with ‘Unfair’ Crypto Trades

By Editors | 31/03/2024

The proposed operating rules will come into force from 19 July, when the new Virtual Asset User Protection Act also takes effect.