Enforcement

AML / KYC

Preparing for New Russia-Related Sanctions, Export Controls

By Nick Turner | 01/02/2022

Nick Turner and Steptoe partners summarize noteworthy US proposals for imposing Russia-related sanctions over the situation in Ukraine.

Enforcement

Korea FSS Proposes to Partially Suspend Hana Bank Operations

By Editors | 01/02/2022

The FSS is also proposing to force Hana Bank executives and employees involved in DLF mis-selling to pay penalties.

Enforcement

SFC Fines Citigroup Asia Unit for Client Facilitation Misconduct

By Editors | 28/01/2022

Deceptive practices were deployed at the expense of clients’ best interest and to the detriment of market integrity, said SFC chief Ashley Alder.

Enforcement

US Court Acquits Deutsche Traders in LIBOR Rigging Case

By Editors | 28/01/2022

Former Deutsche Bank traders Matthew Connolly and Gavin Black were convicted in October 2018. Both have now been acquitted.

Crypto / Digital Assets

Myanmar to Ban Crypto Under New Cybersecurity Law

By Sanday Chongo Kabange | 28/01/2022

Under the proposed law, using cryptocurrency may lead to imprisonment of 6-12 months in prison or fines up to USD 2800.

AML / KYC

HK ICAC Charges Three Ex-StanChart Employees For Fraud

By Editors | 27/01/2022

The former relationship managers were among five individuals indicted for conspiring to deceive Japanese investors with false documents.

AML / KYC

Faster Transactions Impeding Scam Loss Recoveries: HK Police

By Sanday Chongo Kabange | 27/01/2022

Online banking, electronic payment services and cryptocurrency wallets have made it more difficult to recover scam proceeds.

Enforcement

BSP Calls for Passage of New Financial Consumer Protection Act

By Mark Johnston | 24/01/2022

The Act establishes stronger protection standards for consumers, promotes transparent and responsible pricing, and give regulators more teeth.

AML / KYC

AUSTRAC Expands AML Probe of Star Casino Group to ‘Other Entities’

By Sanday Chongo Kabange | 21/01/2022

AUSTRAC has advised Star that it has not yet made a decision regarding its regulatory response, including whether or not enforcement action will be taken.