ENFORCEMENT

    AML / KYC

    OFAC Fines HK Unit of Japanese Conglomerate Sojitz

    By Editors | 13/01/2022

    Trading in Iran-origin goods was carried out without the knowledge of senior management by employees who omitted information from documentation.

    Enforcement

    Taiwan FSC Fined Seven FIs Over Regulatory Violations

    By Darien Choong | 12/01/2022

    Taiwan’s FSC has fined seven financial institutions for regulatory violations including the improper payment of commissions.

    Enforcement

    Malaysia SC Charges Serba Dinamik Execs for False Disclosure

    By Ranamita Chakraborty | 06/01/2022

    Four executives of oil and gas engineering company Serba Dinamik have been charged for submitting a false statement to Bursa Malaysia.

    Enforcement

    Singapore Police, MAS Launch Probe into Unlicensed Trading Platform

    By Editors | 05/01/2022

    Three arrests have been made amid suspicions that “irregular trading activities have been carried out on the platform”.

    Enforcement

    BaFin Fines Deutsche Bank for Over EURIBOR Control Lapses

    By Editors | 04/01/2022

    BaFin found flaws in the processes used by Deutsche Bank to calculate EURIBOR between April 2019 and April 2020.

    Enforcement

    Mizuho Bank Reports 9th System Failure for 2021

    By Editors | 04/01/2022

    The failure was attributable to an error in Mizuho’s system settings for transactions occurring at night and on holidays, impacting ATM and online banking operations.

    Enforcement

    Taiwan FSC Fines Three Banks Over Client Fund Embezzlement

    By Editors | 03/01/2022

    CTBC Bank was fined TWD 14 million, Bank SinoPac was fined TWD 4 million, and Bank of Panhsin was fined TWD 2 million.

    AML / KYC

    UK Court Hands Down Longest Ever Jail Terms for Money Laundering

    By Editors | 02/01/2022

    A Russian and Lithuanian were sentenced to 16 and 17 years in prison, respectively, for laundering £70mn over four years.

    AML / KYC

    SFC Fines Grand International Futures for AML Breaches

    By Editors | 02/01/2022

    Grand International Futures did not conduct due diligence on customer supplied systems, resulting in thier use to create subaccounts and solicit investment from Mainland investors.

    Enforcement

    HK ICAC Charges Six Former AXA Employees For Fraud

    By Editors | 24/12/2021

    The ICAC charged the six former employees with conspiracy to defraud AXA of over HKD 950,000 in commissions and bonuses.

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