Enforcement

Enforcement

ICAC Arrests Three in Joint Operation with SFC, AFRC

By Manesh Samtani | 20/10/2023

The case involves suspicions of corporate fraud, corruption, and a conspiracy between a ramp-and-dump syndicate and two listed companies.

Enforcement

MAS Bans Former AXA and Aviva Financial Advisers

By Editors | 20/10/2023

The former advisers were banned for allowing unlicensed individuals to perform financial advisory services on their behalf.

Enforcement

MAS Instructs DBS, Citi to Investigate Delayed Recovery from Outage

By Editors | 19/10/2023

The banks took longer than the required four hours to recover from last Saturday’s outage. MAS said it will take appropriate supervisory actions after gathering the necessary facts.

AML / KYC

FinCEN to Require FIs to Report Transactions Involving Crypto Mixers

By Editors | 19/10/2023

FIs would have to report information about transactions they know or suspect could involve crypto mixing, whether in the US or in another jurisdiction.

Enforcement

Korean Banks Face Increasing Penalties in Foreign Jurisdictions – Report

By Mark Johnston | 19/10/2023

Korea’s four largest banks have seen a 180-fold increase in fines and penalties imposed by foreign authorities in the past three years.

Enforcement

RBI Imposes Record Penalty on ICICI Bank for Rule Violations

By Sanday Chongo Kabange | 18/10/2023

The penalty against ICICI Bank was more than all the combined penalties imposed by the RBI on private banks for fiscal year 2023.

Enforcement

Former Bank of China Chairman Arrested on Corruption Charges

By Editors | 18/10/2023

Former Bank of China chairman Liu Liange is one of the highest-ranking bankers to become entangled in China’s anti-corruption campaign.

Enforcement

Japan FSA Orders Report Explaining Zengin-Net Outage

By Sanday Chongo Kabange | 18/10/2023

Zengin-Net has to produce a report explaining last week’s outage and measures taken to prevent a recurrence.

Enforcement

MAS Issues Prohibition Orders Against Two Former Insurance Agents

By Editors | 16/10/2023

The former insurance representatives submitted a claim for a leg injury despite knowing it occurred before the insurance policy application.