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Enforcement
AML / KYC
Korea to Crack Down on Financial Crime Involving Capital Markets
By Editors | 16/08/2023
The FSS and National Office of Investigation have signed an MoU to strengthen cooperation on illegal activities in the capital market.
AML / KYC
Singapore Police Arrests 10 Foreigners for Forgery, Money Laundering
By Manesh Samtani | 16/08/2023
The suspects were involved in laundering proceeds from organised crime activities. MAS is scrutinising FIs where tainted funds were found.
ESG / Sustainability
US SEC Scrutinising ESG Marketing by Fund Managers – Report
By Sanday Chongo Kabange | 16/08/2023
The SEC’s enforcement division sent document requests to several asset managers seeking information about their ESG strategies and marketing prepositions.
Enforcement
Hong Kong IA Bans Ex-StanChart Agent for Six Months
By Editors | 16/08/2023
The agent doctored a DDA form because the client’s signature was missing on one page. The SFC previously disciplined the same individual.
Fintech / Regtech
HKMA Asks Banks to Participate in New Data Sharing Initiative
By Editors | 15/08/2023
The Interbank Account Data Sharing Initiative will enable banks to share bank account data with other banks, subject to customer consent.
AML / KYC
Ex-FBI Agent Admits He Worked for Sanctioned Russian Oligarch
By Editors | 15/08/2023
Charles McGonigal, one of the highest-ranking FBI agents to ever face criminal charges, entered a guilty plea on Tuesday in New York.
AML / KYC
HKMA Fines EFG Bank Over AML Control Deficiencies
By Editors | 15/08/2023
The bank failed to complete identity verification for customers that were transferred in from another FI and had other issues related to CDD and ongoing monitoring.
Crypto / Digital Assets
US Prosecutors File Amended Indictment Against Sam Bankman-Fried
By Editors | 15/08/2023
The new indictment drops a campaign finance charge but includes an illegal campaign finance scheme as part of original fraud and money laundering charges.
Enforcement
UBS Settles RMBS-related Misconduct Lawsuit for Over $1.4b
By Editors | 15/08/2023
The settlement brings the total amount of civil penalties paid by firms for failed RMBS leading up to the 2008 financial crisis to over USD 36 billion.
Enforcement
Taiwan FSC Fines CTBC Units for Governance Failures
By Editors | 14/08/2023
CTBC Financial was regularly inviting a major shareholder to attend group meetings and executive dinners, though he was not an authorised person.
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