ENFORCEMENT

AML / KYC

Australia: Crown Casinos Ordered to Pay Record Breaking Penalty

By Editors | 12/07/2023

Crown will pay A$125mn now, A$125mn within a year, and the remaining A$200mn within two years for AML/CTF breaches.

Enforcement

Singapore’s Cyber Security Agency Inks MOU in Cybercrime Fight

By Karen Ng | 11/07/2023

The Cyber Security Agency of Singapore aims to protect financial institutions against cybercrime through information sharing and preparation against cyber-attacks.

Crypto / Digital Assets

US Indicts Moroccan for Crypto and NFT Spoofing Scam

By Mark Johnston | 11/07/2023

A Moroccan man is accused of stealing cryptocurrency and NFTs by creating a fake OpenSea website.

AML / KYC

G7 Forms Joint Task Force to Tackle Corruption in Ukraine

By Editors | 10/07/2023

The G7 nations will collaborate on sharing information and devise strategic approaches to address Ukraine corruption-related challenges.

Enforcement

MAS Urges Banks to Stop Use of SMS OTP

By Karen Ng | 10/07/2023

The MAS is urging banks to move away from the sole reliance on SMS OTP as the only authentication factor for transactions.

Capital / Liquidity

China Unveils Regulatory Framework for Private Equity Funds

By Karen Ng | 10/07/2023

China unveils a formalised framework for regulating its USD 2.9 trillion private equity industry.

Enforcement

China Marks End of Tech Crackdown With Ant Group Penalty

By Editors | 10/07/2023

Ant Group was fined CNY 7.1 billion. The PBOC and CSRC said they would shift focus to more “normalised supervision”.

Enforcement

SEBI Probes Software Misuse by NSE Trading Members

By Editors | 09/07/2023

Some high-frequency traders reportedly used special software that enabled them to submit orders to NSE without paying transaction fees.

Enforcement

MAS Punished 17 FIs for Breaching AML/CFT Laws in 5 Years

By Karen Ng | 07/07/2023

A total of 20 investigations have been conducted during the time frame 1 June 2018 to 23 June 2023