Enforcement

Enforcement

Technology and Regulations Clash: Apple Vs EU Antitrust Law

By Peter Guy | 05/05/2022

European Commission has not shown cause for anti-trust allegations as consumers strongly support Apple payment technology, writes Peter Guy.

Enforcement

US SEC Expands Enforcement Unit Dedicated to Crypto, Cyber

By Editors | 05/05/2022

The additional resources will be used to prioritise investigations related to crypto asset offerings, exchanges, lending and staking products, as well as DeFi platforms, NFTs and stablecoins.

AML / KYC

BSP Sanctions BDO, UBP Over Unauthorised Bank Transfers

By Editors | 04/05/2022

The BSP said it has completed its investigation into the incident and sanctioned both BDO Unibank and UBP, but it did not specify the penalties.

AML / KYC

NAB Enters Undertaking to Uplift AML/CTF Compliance

By Editors | 04/05/2022

NAB’s action plan has to be completed by 31 Dec 2024, and a final report issued by Mar 2025. An independent auditor will have to report progress to AUSTRAC annually.

Enforcement

UK Regulator Accuses HSBC of Greenwashing Through Advertising

By Editors | 04/05/2022

The UK’s advertising watchdog says HSBC misled customers by selectively promoting its green initiatives without mentioning its continued financing of fossil fuel businesses.

AML / KYC

Korean Police Arrest Woori Employee for Embezzlement

By Editors | 03/05/2022

The theft occurred in three separate withdrawals between 2012 and 2018. It went undetected despite 11 inspections and audits at Woori during the period.

AML / KYC

German Authorities Raid Deutsche Bank in Money Laundering Probe

By Editors | 02/05/2022

The raids are reportedly connected to late SARs filings involving a transaction linked to the family of Syrian leader Bashar al-Assad.

Enforcement

​CBIRC Works to Resolve Unpaid Balances from P2P Crackdown

By Darien Choong | 30/04/2022

The CBIRC said it will continue to pursue now-closed P2P lending platforms as well as their owners and executives through the court system for losses suffered by investors.

AML / KYC

US OCC Orders Digital Assets Bank to Address AML Failings

By Sanday Chongo Kabange | 30/04/2022

Deficiencies were found at Anchorage Digital Bank, the US’ first federally chartered bank authorised to provide institutional custody services for crypto.