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Enforcement
AML / KYC
HK Customs “Smashes” Syndicate That Laundered HK$6b
By Editors | 18/01/2023
A money laundering operation centre was being run from an apartment at a large private housing estate. The syndicate was “successfully smashed”.
Enforcement
Korea: Tougher Penalties for Unfair Trading Expected Within H1
By Editors | 18/01/2023
Those engaged in unfair trading activities would face either a prison sentence of at least one year or a fine of between three and five times profits.
Enforcement
New Zealand: Cigna to Pay Biggest-ever Penalty in FMA Case
By Editors | 18/01/2023
Cigna increased premiums and cover for customers without being clear and transparent about the basis for the increase.
Enforcement
China Further Signals End to Tech Sector Crackdown
By Manesh Samtani | 18/01/2023
Didi passed its security review and is allowed to resume onboarding new customers. Government entities are acquiring “golden shares” in some tech giants.
Enforcement
Singapore: Ex-Agritrade CFO Sentenced to 20 Years Jail
By Editors | 17/01/2023
The former CFO instructed subordinates to submit false financial statements to banks in Japan, South Korea, India and Taiwan to obtain trade financing.
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.
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