ENFORCEMENT

Enforcement

Japan Post Data Misuse Probe Identifies 10 Million Affected Accounts

By Thisanka Siripala | 19/03/2025

Japan Post Group has cut the pay of 14 executives after finding that 10 million accounts were accessed for insurance sales activities.

Enforcement

Korea FSS Starts On-site Inspections of Online Loan Brokers

By Thisanka Siripala | 19/03/2025

The focus is on whether the platforms prioritise financial products that benefit consumer needs, such as by listing loans with lower interest rates first.

AML / KYC

Myanmar Returns 450 Chinese Nationals Involved in Online Scams

By Nithya Subramanian | 19/03/2025

Myanmar has intensified efforts to combat telecom fraud and online gambling by strengthening cooperation with neighbouring countries.

Enforcement

S. Korean Prosecutors Raid IBK Offices Over Loan Scandal

By Mark Johnston | 19/03/2025

South Korean prosecutors have raided the offices of former and current IBK employees suspected of involvement in illegal loan activities.

Enforcement

Australian Court Orders Active Super to Pay A$10.5m for Greenwashing

By Sanday Chongo Kabange | 19/03/2025

This is ASIC’s third successful greenwashing case, sending a “strong message” to companies that their sustainable investment claims need to reflect their true position.

AML / KYC

ASIC’s Action Against Star Directors Sends Warning Shot Across Bows — And Boards

By Nathan Lynch | 18/03/2025

The case against 11 of Star casino’s directors highlights the pressure on boards to understand, mitigate and manage AML/CTF risks, writes Nathan Lynch.

Enforcement

S. Korea Introduces Cap on Penalty for Accounting Fraud

By Mark Johnston | 18/03/2025

Penalties for fraudulent accounting will be capped at KRW 1 billion under the Act on External Audit of Stock Companies.

Enforcement

ASIC Takes Action Against 17 SMSF Auditors Over Compliance Breaches

By Thisanka Siripala | 18/03/2025

The affected auditors oversaw funds managing more than AUD 1 trillion in assets across 638,000 SMSFs.

Enforcement

FSC Korea Announces Conclusion of Short-Selling Investigations

By Mark Johnston | 18/03/2025

A total 13 international investment banks were fined a combined USD 60 million for naked short-selling in Korea.