Enforcement

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    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.

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    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.

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    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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    Enforcement

    US SEC Files Charges Against Crypto Firms Gemini, Genesis

    By Editors | 13/01/2023

    The SEC says the Gemini Earn programme, which allowed investors to earn interest on their crypto assets, constituted the offer and sale of unregistered securities.

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    AML / KYC

    UK FCA Penalises Qatar’s Al Rayan Bank for AML Failures 

    By Editors | 13/01/2023

    The bank had no policy for handling large deposits and did not conduct an internal audit of its financial crime unit over an 8-year period, among other weaknesses.

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    Crypto / Digital Assets

    CFTC Takes First Action Involving Decentralised Crypto Exchange

    By Manesh Samtani | 12/01/2023

    The CFTC filed fraud and swap manipulation charges against a hacker, saying the Commodity Exchange Act applies to decentralised blockchain-based trading platforms.

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    AML / KYC

    Financial Crime: Threats, Challenges, and Priorities for 2023

    By Manesh Samtani | 12/01/2023

    RUSI’s Tom Keatinge discusses the continuing focus on fraud and scams in Asia, and work underway on asset recovery, sanctions, and environmental crime.

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    Enforcement

    Korean Authorities Investigate Bithumb for Possible Tax Evasion

    By Editors | 11/01/2023

    Tax authorities raided Bithumb’s headquarters in Seoul on Tuesday. Two of its former chairmen have also been the subject of separate probes.

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    AML / KYC

    UK FCA Fines Nigeria’s Guaranty Trust Bank for AML Weaknesses

    By Editors | 11/01/2023

    The FCA said the bank’s behaviour mirrored previous misconduct, for which it was also fined in 2013 and had restrictions imposed in 2018.

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    AML / KYC

    PBOC Fines Three FIs a Combined $20m for AML Rule Violations

    By Editors | 10/01/2023

    China Merchants Bank, China Merchants Bank, UnionPay, and 26 of their responsible persons were fined for a total 31 regulatory violations.

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