Enforcement

Enforcement

Australia: Ex-Wealth Manager Held in Contempt of Court

By Sanday Chongo Kabange | 03/07/2025

Joshua Fuoco will never be allowed to be involved in financial services or credit activities, following an undertaking he gave to the Federal Court.

Enforcement

Singapore’s Anti-Scam Law Empowering Police Takes Effect

By Nithya Subramanian | 03/07/2025

The new law allows police to issue ROs limiting access to banking and credit facilities for individuals believed to be at imminent risk of transferring money to scammers.

Enforcement

BUSSQ Publishes Independent Expert Report on Remediation Efforts

By Sanday Chongo Kabange | 02/07/2025

APRA confirmed that BUSSQ has issued the report, which details the super fund’s efforts to address governance and risk management deficiencies.

Enforcement

Korean Banks in Cambodia Accused of Predatory Lending

By Editors | 02/07/2025

A new report alleges predatory lending by Korean-owned banks in Cambodia is causing widespread debt, land loss and rights abuses.

Enforcement

ASIC Sues Coal Power Operator for Market Manipulation

By Sanday Chongo Kabange | 02/07/2025

ASIC alleges that Delta Power & Energy engaged in futures market and financial benchmark manipulation on 30 occasions.

Capital / Liquidity

FSC Korea Orders Sangsangin Plus Bank to Improve Management

By Editors | 02/07/2025

The action, the first of its kind since the 2011 crisis, comes as the bank’s delinquency rate tops 20%, more than double the industry average.

Enforcement

Taiwan Passes Law Allowing Cross-Company Dismissal of Directors

By Editors | 02/07/2025

The new law allows for the dismissal of listed company directors for fraud or embezzlement committed at other firms.

Enforcement

Philippines: Many Online Scammers Used to Work at POGOs

By Nithya Subramanian | 01/07/2025

Authorities say many online scammers who’ve been arrested used to work for POGOs, which were banned in the Philippines last year.

Enforcement

Malaysian Court Jails Ex-CIMB Banker for Securities Fraud

By Nithya Subramanian | 01/07/2025

The former banker claimed he would invest investors’ funds in shares but used them for other purposes without their knowledge.