Enforcement

Enforcement

New OFAC Settlement Highlights Compliance for E-Commerce

By Editors | 07/11/2023

The US Treasury Department said a US-based online rewards company failed to identify transactions involving persons in Crimea, Cuba, Iran, and Syria.

Securities / Derivatives

Korea Reimposes Short Selling Ban to Combat Unfair Trades

By Manesh Samtani | 06/11/2023

The government will ban short selling until end June 2024 and work on improving the short selling system, said FSC chairman Kim Joo-hyun.

AML / KYC

US Jury Convicts FTX’s Sam Bankman-Fried on Fraud Charges

By Editors | 03/11/2023

Bankman-Fried faces up to 110 years in prison when he is sentenced in March. He also faces another trial for alleged foreign bribery and bank fraud conspiracies.

Enforcement

Taiwan Arrests Suspects in Record Crypto Laundering Case

By Mark Johnston | 02/11/2023

A fake securities trading app was used to launder over USD 320 million via crypto in the largest case of its kind in Taiwan.

Enforcement

China Jails 21 for Laundering USDT from Online Fraud, Gambling

By Mark Johnston | 02/11/2023

A group of 21 people in China laundered criminal proceeds from online fraud and gambling activities using USDT.

Enforcement

MAS Imposes Restrictions on DBS Over Service Disruptions

By Editors | 01/11/2023

DBS has to suspend business acquisitions and non-essential changes to its IT systems, instead dedicating its resources and attention to technology resiliency.

Enforcement

APRA Applies A$20m Capital Charge to RAC Insurance

By Sanday Chongo Kabange | 01/11/2023

APRA said its review of RAC Insurance revealed “significant weaknesses” in its outsourcing controls, conflict management and board decision making.

Enforcement

FSS Korea Asks Prosecutors to Charge Kakao for Market Manipulation

By Sanday Chongo Kabange | 01/11/2023

The FSS has sent recommendations to prosecutors asking them to charge Kakao, Kakao Entertainment and several top executives.

Enforcement

Korea FSS to Probe Illegal Short-selling by Foreign Investment Banks

By Manesh Samtani | 31/10/2023

A special team will launch next week to investigate whether more global investment banks engaged in illegal short-selling, and whether local securities firms helped them.