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Enforcement
Korea FSS to Punish Illegal Business Lending by Savings Banks
By Editors | 27/06/2022
Restrictions on household loans appear to have caused an increase in loans to businesses from savings banks to fund housing purchases.
Enforcement
China Escalates Probe into Henan Bank Withdrawal Freezes
By Darien Choong | 24/06/2022
Initial investigations have revealed that the online transaction systems of the banks which suspended withdrawals were manipulated.
AML / KYC
NSW to Strengthen State AML Laws to Target Organised Crime
By Editors | 24/06/2022
New legislation will be introduced around September to enable police to stop-and-search for and seize unexplained wealth and ban encrypted devices.
Enforcement
Japan SESC Seeks Penalty Order Against UK High Speed Trader
By Editors | 23/06/2022
Atlantic Trading London engaged in a series of manipulative derivative transactions in early 2020, the SESC said.
Enforcement
Korean Prosecutors Impose Flight Ban on Terra Employees
By Editors | 23/06/2022
The travel ban is meant to prevent dozens of Terraform Labs employees in Korea from leaving the country to avoid being summoned for questioning.
Enforcement
Australian Court Sentences CFD Trader for Insider Trading
By Editors | 21/06/2022
The CFD trader made AUD 343,000 in profit by trading on inside information regarding a takeover bid for PanAust Limited.
AML / KYC
HK Customs Arrests Woman for Suspected Laundering of HK$350m
By Editors | 21/06/2022
The woman used 23 personal bank accounts to launder the money over three years, mostly for shell companies set up by individuals from mainland China.
Enforcement
CBIRC Fined 13 Banks in First Two Weeks of June
By Editors | 21/06/2022
The CBIRC is seen to be enforcing strict penalties in order to strengthen market discipline and improve internal control and governance at banks.
Enforcement
RBI Releases Mastercard from Restrictions Imposed Last Year
By Editors | 20/06/2022
Mastercard was barred from onboarding new domestic customers in July last year due to noncompliance with India’s data storage rules.
Crypto / Digital Assets
Korea: New FSC, FSS Chiefs to Prioritise Stability, Growth
By Mark Johnston | 20/06/2022
The FSS will be led by former prosecutor Lee Bok-hyun, while the FSC will be led by Kim Joo-hyun, who helped guide Korea through the 2008 crisis.
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