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Enforcement
Enforcement
Former PBOC Deputy Governor Pleads Guilty for Accepting Bribes
By Editors | 18/04/2024
Fan Yifei abused his positions and took bribes from 1993 to 2022, while at China Construction Bank, China Investment Corp, Bank of Shanghai and the PBOC.
Enforcement
US SEC Blocks Staff Messaging on Mobile Devices
By Editors | 17/04/2024
The SEC is restricting access to SMS, iMessage, and third-party messaging applications on employees’ work mobile phones.
AML / KYC
Third Man Jailed in Singapore’s Billion Dollar Money Laundering Case
By Nithya Subramanian | 17/04/2024
Chinese national Wang Baosen jailed for 13 months and required to forfeit over S$8mn in assets as part of his plea deal.
AML / KYC
Australian Senator Calls on AUSTRAC to Investigate TikTok
By Nithya Subramanian | 17/04/2024
TikTok’s platform was allegedly used to transfer money to accounts suspected of being linked to terrorist groups.
Enforcement
No Criminal Misconduct Found in EY’s Wirecard Audits
By Editors | 17/04/2024
EY could have faced unlimited liability for claims of damages from Wirecard’s administrator and former shareholders if criminal misconduct was found.
AML / KYC
Multiple US Regulators Probing Morgan Stanley’s Wealth Arm – Report
By Nithya Subramanian | 16/04/2024
US regulators are assessing whether the bank has sufficiently investigated the identities of clients and their sources of wealth.
Enforcement
SFC Orders Trading Suspension of Listed Fruit Products Seller
By Editors | 16/04/2024
The company was earlier ordered to reconstitute its board of directors and engage an independent manager over more than $60m in missing funds.
Crypto / Digital Assets
Three Crypto Firms Enter Into Liquidation in Australia
By Editors | 16/04/2024
A$55mn worth of assets belonging to a crypto fund operator have been frozen by court order, after investors became concerned about the fund’s management.
Enforcement
ASIC Commences Proceedings Against Blockchain Mining Companies
By Editors | 16/04/2024
The companies, without an AFS licence, encouraged investors to set up self-managed superannuation funds to then invest in blockchain mining packages and crypto.
Enforcement
Former China Everbright Chairman Charged for Bribery
By Editors | 12/04/2024
Tang Shuangning was one of China’s most influential business leaders from 2007 to 2017 in his role as chairman of China Everbright Group.
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