Enforcement

Enforcement

Philippines Jails Former Bankers for Creating False Loans

By Editors | 08/12/2022

Former chief operating officer and former compliance officer of now-defunct Orani Rural Bank created fictitious loans by falsifying documents.

Enforcement

MAS Bans Former UOB, OCBC Representative for 15 Years

By Editors | 08/12/2022

The former representative deceived seven customers into transferring S$2mn to his personal bank accounts by promoting fictitious fixed deposits and other investment products.

AML / KYC

AUSTRAC Launches Federal Court Proceedings Against SkyCity

By Sanday Chongo Kabange | 08/12/2022

The proceedings against SkyCity are the third AUSTRAC has brought against casino operators, after similar cases were launched against Star and Crown casino entities.

AML / KYC

Japan Lawmakers Approve Revisions to Anti Financial Crime Laws

By Editors | 07/12/2022

The revisions will allow Japanese authorities to criminally punish crypto firms that do not comply with the Travel Rule.

Enforcement

Swiss Competition Commission Opens Probe Into 34 Banks

By Editors | 07/12/2022

The banks regularly exchanged information about the salaries of certain categories of employees, potentially breaching Switzerland’s antitrust law.

AML / KYC

International Operation Targeting Money Mules Yields 2,500 Arrests

By Editors | 07/12/2022

The operation involved law enforcement agencies in 25 countries including Singapore and Australia, supported by Europol, Eurojust, INTERPOL and the EBF.

Enforcement

ASIC Sues Amex in First Court Case Involving DDO Breaches

By Editors | 07/12/2022

ASIC alleges that American Express Australia breached its design and distribution obligations in relation to two credit cards it issued and co-branded with retailer David Jones.

Securities / Derivatives

FSC Korea Unveils Plans to Disclose Names of Rule Breakers

By Editors | 06/12/2022

The FSC said disclosing the names of those who breach short selling rules or create market disturbances will create a deterrence effect and reduce illegal activities in capital markets.

Enforcement

UK Regulator Fines Barclays Over Non Transparent Card Fees

By Editors | 04/12/2022

Barclays was fined by the PSR for failing to give retailers full information about the costs of its card services for three years.