ENFORCEMENT

Enforcement

Taiwan Passes Law Changes to Deter Property Speculation

By Editors | 17/01/2023

The amendments introduce fines up to TWD 50 million for market manipulation and the spreading of false information regarding housing prices.

Crypto / Digital Assets

BitConnect Victims Receive $17mn Restitution from Crypto Fraud

By Editors | 16/01/2023

BitConnect was an online crypto lending platform that collapsed in 2018, causing investor losses estimated at over USD 2.4 billion.

Enforcement

Indonesian Court Imposes $370m Fine for Stock Manipulation

By Editors | 16/01/2023

The fine is one of the largest ever in an Indonesian corruption case. Prosecutors reportedly plan to appeal the ruling to seek the death penalty.

Enforcement

Thailand: SEC’s Latest Tool to Protect Crypto Investors: Free E-Learning

By Manesh Samtani | 16/01/2023

The ‘Crypto Academy’ is one of several measures the SEC has taken to protect crypto investors since local exchange Zipmex halted customer withdrawals in July 2022.

AML / KYC

CSRC Official Faces Criminal Prosecution for Corruption

By Editors | 15/01/2023

The former head of the CSRC’s Shandong branch was found to have accepted gifts and bribes and engaged in illegal stock trading.

Enforcement

US SEC Files Charges Against Crypto Firms Gemini, Genesis

By Editors | 13/01/2023

The SEC says the Gemini Earn programme, which allowed investors to earn interest on their crypto assets, constituted the offer and sale of unregistered securities.

AML / KYC

UK FCA Penalises Qatar’s Al Rayan Bank for AML Failures 

By Editors | 13/01/2023

The bank had no policy for handling large deposits and did not conduct an internal audit of its financial crime unit over an 8-year period, among other weaknesses.

Crypto / Digital Assets

CFTC Takes First Action Involving Decentralised Crypto Exchange

By Manesh Samtani | 12/01/2023

The CFTC filed fraud and swap manipulation charges against a hacker, saying the Commodity Exchange Act applies to decentralised blockchain-based trading platforms.

AML / KYC

Financial Crime: Threats, Challenges, and Priorities for 2023

By Manesh Samtani | 12/01/2023

RUSI’s Tom Keatinge discusses the continuing focus on fraud and scams in Asia, and work underway on asset recovery, sanctions, and environmental crime.