Enforcement

Enforcement

Singapore Jails Four on False Trading, Deception Convictions

By Editors | 14/07/2023

The four were convicted for their involvement in a scheme to manipulate the price of Catalist-listed Koyo International between 2014 and 2016.

Enforcement

SFC Fines Fund Manager for Failing to Segregate Client Funds

By Sanday Chongo Kabange | 14/07/2023

The fund manager also issued inaccurate statements of accounts and failed to provide statements of accounts to clients within the prescribed time limit.

AML / KYC

Malaysia Arrests Former 1MDB Legal Counsel

By Editors | 14/07/2023

Jasmine Loo fled Malaysia in 2018 but is now willing to cooperate with Malaysian authorities on investigations.

Enforcement

UK FCA Fines Bastion Capital Over Cum-Ex Trades

By Mark Johnston | 13/07/2023

The UK FCA imposed a GBP 2.45 million fine on a former broker that executed over GBP 70 billion worth of fraudulent trades.

Enforcement

FFC Asia 2023: HKMA Says Information Sharing Key to Fighting Fraud

By Karen Ng | 13/07/2023

HKMA says information sharing among banks will be key to tackling the new challenges in the fraud and financial crime landscape.

AML / KYC

SEC Settles Charges Against Merrill Lynch for Failing to File SARs

By Editors | 13/07/2023

Merrill Lynch did not file hundreds of mandatory SARs because it erroneously used a $25,000 threshold instead of the required $5,000 threshold.

Crypto / Digital Assets

Woori Bank Caught Up in Crypto-related Embezzlement Scandal

By Sanday Chongo Kabange | 13/07/2023

On of Woori Bank’s employees embezzled about KRW 90 million and used it for personal investments in crypto.

Enforcement

Terra Co-Founder Daniel Shin Faces First Terra Hearing in Korea

By Mark Johnston | 13/07/2023

Daniel Shin and seven other Terra staff are accused of violating capital markets laws, making false representations, and causing the de-pegging of TerraUSD.

Crypto / Digital Assets

Korea Prosecutors to Form New Unit Dedicated to Crypto Crime

By Sanday Chongo Kabange | 12/07/2023

The new Virtual Asset Joint Investigation Unit will launch by the end of the month and focus on investigating crypto-related crime including fraud.