ENFORCEMENT

Enforcement

US Agencies Target MoneyGram Over Delayed Remittances

By Editors | 24/04/2022

The complaint says the delays caused harm to recipients who were waiting for their money that had become “stuck in” or “looped” in MoneyGram’s systems.

Enforcement

MAS Consults on Revised Misconduct Reporting Requirements

By Manesh Samtani | 24/04/2022

Misconduct reports will have to be submitted to MAS within 21 calendar days after an FI has found reasonable grounds to believe that misconduct has been committed.

Enforcement

CA ANZ May Discipline 12 KPMG Accountants for Cheating

By Editors | 23/04/2022

More than 400 CA ANZ members were found to have cheated on online training tests, but only 12 are being put through the body’s disciplinary process.

Enforcement

Australia: Deloitte Resolves Case of False Expense Claims

By Editors | 22/04/2022

Former director Paul Quill has reportedly agreed to repay Deloitte for over A$3mn of personal purchases claimed as work expenditures.

Enforcement

Singapore Court Jails Company Director for Cheating Three Banks

By Editors | 22/04/2022

The man used fake invoices in business loan applications to cheat OCBC, Maybank and UOB out of about SGD 2.6 million.

Enforcement

PBOC Amends Bank Inspection Rules and Penalty Procedures

By Editors | 22/04/2022

The PBOC will make “full use” of the Internet, big data and other technical means in off-site inspections and strengthen the collection and sharing of regulatory information.

AML / KYC

20 Year Old Pleads Guilty in OCBC Phishing Scam Case

By Editors | 20/04/2022

The individual worked with other youths to provide overseas syndicates control of bank accounts that were used to receive and dissipate funds obtained through scams.

Enforcement

China to Step Up Corruption Crackdown in Capital Markets

By Editors | 19/04/2022

So far this year, nine financial officials were expelled from the CCP, with some facing other disciplinary punishments including criminal prosecution.

AML / KYC

NY Court Acquits Two Philippine Casinos in Bangladesh Bank Case

By Editors | 18/04/2022

Bangladesh Bank says the court did not dismiss the entire case concerning its 2016 hack; only two of the 20 accused were acquitted due to “lack of jurisdiction”.