Enforcement

Enforcement

FINRA Censures and Fines Mizuho’s US Securities Unit

By Editors | 14/05/2024

Mizuho Securities had inaccurate or incomplete information in more than 300,000 institutional customer confirmations over five years.

Enforcement

FSS Korea Finds Misconduct at Real Estate Trust Companies

By Editors | 13/05/2024

The FSS found extortion of real estate developers, and other misconduct. The cases will be referred to investigative agencies.

AML / KYC

Singapore Jeweller Charged for Not Performing CDD Checks

By Nithya Subramanian | 13/05/2024

The jeweller failed to undertake customer due diligence checks when there was reason to suspect money laundering.

Enforcement

ICBC, Bank of China Execs Facing Corruption Prosecutions

By Editors | 13/05/2024

New corruption investigations also launched against former officials from the NFRA, CCB and China Development Bank.

Enforcement

Singapore Court Convicts Hin Leong Founder for Cheating HSBC

By Nithya Subramanian | 13/05/2024

Lim Oon Kuin was convicted of cheating HSBC and abetting forgery. He will be sentenced in October.

AML / KYC

1MDB and Subsidiaries Sue Former PM’s Wife for $346mn

By Nithya Subramanian | 13/05/2024

The lawsuit alleged that funds from 1MDB and its subsidiaries were used by Najib Razak’s wife to purchase luxury goods.

AML / KYC

New Zealand DIA Issues Formal AML Warning to Lawyer

By Sanday Chongo Kabange | 13/05/2024

The lawyer failed to establish, implement and maintain an AML/CFT programme, conduct on-going CDD, and report transactions.

Fintech / Regtech

RBI Lifts Restrictions on Bank of Baroda Mobile App

By Ajoy K Das | 12/05/2024

The bank was barred from onboarding customers on its ‘BoB World’ app following misuse by employees.

AML / KYC

Singapore to Strengthen Laws to Pursue Money Launderers

By Nithya Subramanian | 10/05/2024

Sectoral regulators will have access to STRs filed by entities they regulate, to enable better detection.