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ENFORCEMENT
Enforcement
Singapore Has Not Banned Myanmar Trade: Minister
By Karen Ng | 05/07/2023
Singapore and war-torn Myanmar would remain trading partners, Vivian Balakrishnan said in response to questions raised about data suggesting the city-state was supplying arms to the Myanmar military.
Enforcement
European Commission Proposes Rules to Enhance GDPR Enforcement Efficiency
By Editors | 04/07/2023
The GDPR Procedural Regulation aims to streamline cooperation between data protection authorities by harmonising some administrative procedures in cross-border cases.
Enforcement
APRA Fines BNK Banking Corp for Late Reporting of EFS Data
By Sanday Chongo Kabange | 04/07/2023
APRA said BNK Banking Corporation was 32 days late in filing statistical reports for the month ending 28 February 2023.
AML / KYC
China Intensifies Efforts to Combat Tax Fraud
By Editors | 03/07/2023
The crackdown is focusing on major industrial and regional cases and professional criminal gangs.
Securities / Derivatives
Korea Passes Bill to Strengthen Penalties for Unfair Trading
By Editors | 03/07/2023
The FSC will be able to impose a penalty surcharge of up to twice the amount of illegally earned profits. The enhanced penalties will take effect in January 2024.
AML / KYC
AUSTRAC Spares Bell Financial from Further Regulatory Action
By Sanday Chongo Kabange | 03/07/2023
AUSTRAC received audit reports for three Bell Financial Group entities and decided not to undertake further regulatory action against them.
Crypto / Digital Assets
Korean Authorities Probes Crypto Lender Delio Over Fraud Allegations
By Sanday Chongo Kabange | 03/07/2023
Regulators are investigating Delio on suspicions that it engaged in fraudulent activities, embezzlement and breach of trust.
Enforcement
CFTC Establishes Task Forces to Target Cyber Threats, Environmental Fraud
By Editors | 02/07/2023
The task forces will help the CFTC address cybersecurity issues, emerging technologies like AI, and fraud in carbon markets.
AML / KYC
UK to Further Restrict Russian Access to Legal Services
By Editors | 30/06/2023
New law will prevent lawyers from advising Russian companies in international money lending and trade deals.
AML / KYC
NZ Court Fines Tiger Brokers for AML Failures
By Sanday Chongo Kabange | 30/06/2023
Tiger Brokers ordered to pay NZD 900,000 penalty for multiple AML/CFT breaches between April 2019 and January 2020.
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