ENFORCEMENT

Enforcement

CBIRC Fines Four Banks for Property Lending Breaches

By Editors | 09/06/2021

Postal Savings Bank of China, China Merchants Bank, China Guangfa Bank and Shanghai Pudong Development Bank were fined a combined CNY 5.3 million.

Enforcement

Chinese Police Detain Sichuan Trust Boss Over Missing Funds

By Sanday Chongo Kabange | 09/06/2021

Liu Canglong, who controls companies with a majority stake in Sichuan Trust, is being held by the public security bureau in Chengdu.

Enforcement

Philippine Prosecutors File Criminal Complaints Over Wirecard Fraud

By Ranamita Chakraborty | 09/06/2021

The criminal complaints accuse respondents of violating banking, cybercrime, and e-commerce laws as well as falsifying commercial documents.

AML / KYC

US DOJ Recovers $2.3mn of Ransom Paid to Colonial Pipeline Hackers

By Sanday Chongo Kabange | 09/06/2021

Investigators were able to track multiple transfers of bitcoin by reviewing the Bitcoin public ledger, and subsequently seized 63.7 bitcoins.

AML / KYC

AUSTRAC Launches Fresh Probes into Australian Casinos

By Ranamita Chakraborty | 07/06/2021

AUSTRAC has launched enforcement investigations into Crown Perth, The Star Sydney and SkyCity Adeliade over their dealings with high-risk customers and PEPs.

Enforcement

Hong Kong: Appeals Tribunal Overturns Ban Against UBS Banker

By Editors | 07/06/2021

The SFAT concluded that the former UBS banker cannot be held personally responsible for the failings of the China Metal Recycling transaction team.

Enforcement

Shenzhen, Guangzhou Order Microfinance Firms to Halt Property Lending

By Sanday Chongo Kabange | 04/06/2021

Financial authorities in Guangzhou and Shenzhen have ordered microfinance companies to stop providing credit for estate assets and investments.

Enforcement

MAS Bans Former Representative Over Forgery Conviction

By Editors | 04/06/2021

The former representative deceived online platform OANDA into crediting money into his personal trading account through forged screenshots of a bank transfer.

Enforcement

RBI Penalises HDFC Over Sale of Non-financial Products

By Editors | 02/06/2021

HDFC violated rules that prohibit banks from entering into any business unrelated to financial services.