ENFORCEMENT

Enforcement

Allianz to Pay $6bn to Settle Investor Fraud Cases

By Editors | 18/05/2022

Allianz Global Investors admitted that it violated the federal securities laws, and is disqualified from providing advisory services to US funds for ten years.

AML / KYC

NSW Ministers Working on New AML Laws – Report

By Editors | 17/05/2022

The NSW attorney general and police minister are working on new laws to tackle unexplained wealth and organised crime.

AML / KYC

HK Police Arrest 17 for Using Virtual Banks to Launder Money

By Editors | 16/05/2022

The syndicate members processed the funds through more than 20 online bank accounts since 2021, police said.

AML / KYC

Myanmar Govt Charges Ex-Central Bank Official with Corruption

By Editors | 16/05/2022

Former CBM deputy governor U Bo Bo Nge is being charged by the military government on allegations that caused losses to the government.

Enforcement

APRA Orders Super Trustee to Improve Governance

By Editors | 16/05/2022

APRA said the direction was necessary to ensure NESS Super Pty Ltd expedites the appointment of an additional independent director.

Enforcement

MAS Imposes S$100,000 Civil Penalty for False Trading

By Editors | 13/05/2022

A woman pledged shares for margin purposes, then bought more near the close to artificially raise their closing prices and increase the value of her collateral.

AML / KYC

Indian AML Investigators Threatened, Coerced Xiaomi Execs – Reports

By Editors | 11/05/2022

In a court filing, Xiaomi India alleges that Enforcement Directorate officials threatened two of its executives and their families with physical violence during questioning.

Enforcement

Taiwan FSC Fines KGI Bank Over Misappropriated Client Assets

By Editors | 11/05/2022

KGI Bank was fined after one employee misappropriated customer funds and another improperly executed customer transactions.

AML / KYC

US SEC, DOJ File Fraud Charges Over $62mn Crypto Fraud

By Editors | 10/05/2022

MCC International Corp and its founders were charged for selling fraudulent investment plans that promised daily returns from crypto mining and robotic trading.