Enforcement

Enforcement

MAS Urges Banks to Stop Use of SMS OTP

By Karen Ng | 10/07/2023

The MAS is urging banks to move away from the sole reliance on SMS OTP as the only authentication factor for transactions.

Capital / Liquidity

China Unveils Regulatory Framework for Private Equity Funds

By Karen Ng | 10/07/2023

China unveils a formalised framework for regulating its USD 2.9 trillion private equity industry.

Enforcement

China Marks End of Tech Crackdown With Ant Group Penalty

By Editors | 10/07/2023

Ant Group was fined CNY 7.1 billion. The PBOC and CSRC said they would shift focus to more “normalised supervision”.

Enforcement

SEBI Probes Software Misuse by NSE Trading Members

By Editors | 09/07/2023

Some high-frequency traders reportedly used special software that enabled them to submit orders to NSE without paying transaction fees.

Enforcement

MAS Punished 17 FIs for Breaching AML/CFT Laws in 5 Years

By Karen Ng | 07/07/2023

A total of 20 investigations have been conducted during the time frame 1 June 2018 to 23 June 2023

Enforcement

Former London Trader Allowed to Appeal LIBOR Rigging Conviction

By Editors | 07/07/2023

Tom Hayes was the first person to be convicted of rigging LIBOR. He was released from jail in 2021 after serving half of an 11-year sentence.

Enforcement

ASIC Fines Openmarkets Record $4.5m for Compliance Failures

By Sanday Chongo Kabange | 06/07/2023

ASIC says Openmarkets did not carry out effective trade surveillance, and banned its former acting head of trading for three years.

AML / KYC

India: Former Chair of Coop Bank Arrested on Fraud Allegations

By Sanday Chongo Kabange | 06/07/2023

India’s Enforcement Directorate arrested the ex-chairman of Seva Vikas Co-operative Bank in connection with a fraud investigation.

AML / KYC

FATF to Bring “Fundamental Change” to Financial Crime Fight

By Karen Ng | 06/07/2023

FATF would scale up its fight against financial crime and bring comfort to victims through better asset recovery.