ENFORCEMENT

AML / KYC

Singapore Jails Man for Money Laundering, Email Fraud

By Editors | 07/04/2022

The man received funds in his and his company’s bank accounts that were derived from chearing offences perpetrated overseas and locally.

AML / KYC

Singapore Tightens Laws on Technology Risk, Crypto Assets

By Sanday Chongo Kabange | 06/04/2022

FIs would face penalties over SGD 1 million for breaching TRM requirements. VASPs will have to be licensed to offer services in Singapore.

Enforcement

Korea: FSC, FSS Relaunch Special Investigations Team

By Editors | 05/04/2022

The team comprises officials from the FSC and FSS, who will be authorised to investigate illegal acts in the capital market more quickly.

Enforcement

ASIC Launches Federal Court Proceedings Against Macquarie

By Editors | 05/04/2022

ASIC says Macquarie failed to properly detect and prevent unauthorised fee transactions by now-convicted former financial adviser, Ross Andrew Hopkins.

Enforcement

Former CSRC Official to Face Criminal Charges for Taking Bribes

By Editors | 04/04/2022

The former official accepted gifts, money, shares of companies, luxury goods and other personal benefits as bribes while he was tasked with reviewing IPO applications.

Enforcement

CBIRC Fines 21 Banks for Data Reporting Failures

By Editors | 04/04/2022

State-owned banks including BOC, CDB, ICBC and CCB were fined a total of USD 13.8 million for data quality and reporting issues.

Enforcement

Philippine SEC to Form Dedicated Unit Targeting Abusive Lending

By Editors | 04/04/2022

The government is seeking to prevent and penalise abusive debt collection practices, misrepresentations, and unreasonable terms and conditions.

Crypto / Digital Assets

Bangladesh Proposes Law to Raise Penalties for Banking Fraud

By Editors | 03/04/2022

The bill would allow Bangladesh Bank to remove a bank’s owners, directors, executives, and other officials if they are involved in banking fraud.

AML / KYC

US DOJ Charges Two for NFT Fraud, Money Laundering

By Sanday Chongo Kabange | 01/04/2022

The two defendants promised benefits to NFTs buyers and then transferred the $1.1mn in crypto proceeds to various wallets under their control.