Enforcement

AML / KYC

Glencore to Pay $1.5b to Settle Bribery & Manipulation Probes

By Manesh Samtani | 26/05/2022

The civil and criminal penalties and forfeitures will resolve a decade-long scheme to bribe foreign officials in seven countries and an oil price manipulation conspiracy.

Crypto / Digital Assets

Terra Collapse Sparks Regulatory Change, Lawsuits in Korea

By Mark Johnston | 26/05/2022

The FSC says thirteen relevant bills on digital asset investor protection are currently pending at the National Assembly.

ESG / Sustainability

US SEC Fines BNY Mellon Unit for ESG Misstatements

By Editors | 25/05/2022

BNY Mellon Investment Adviser stated in documents that all investments in its funds had undergone an ESG quality review, but that this was not always the case.

AML / KYC

Seoul Prosecutors Revive Specialised Financial Crime Team

By Editors | 24/05/2022

A joint investigations team that was disbanded in January 2020 has now been reinstated to respond to financial and securities crimes.

AML / KYC

US SEC Fines Wells Fargo Advisors $7m for AML Failures

By Editors | 24/05/2022

Wells Fargo Advisors was fined for failing to timely file 34 SARs. This is the second BSA action against the firm in the last five years.

Enforcement

US SEC Probes Use of Text Messaging by Major Banks

By Editors | 23/05/2022

The probe is reportedly aimed at gauging how pervasive the use of unauthorised messaging platforms is for business-related messages.

Enforcement

MAS Charges Two Insurance Agents for Falsifying Documents

By Editors | 23/05/2022

Two insurance agents of Prudential Assurance Company Singapore provided false information to MAS in relation to an investigation it was pursuing.

AML / KYC

Fugitive Former Banker from Bangladesh Arrested in India

By Editors | 22/05/2022

PK Halder has been on the run since 2019 after allegedly defrauding multiple NBFIs in Bangladesh of more than $280,000.

Enforcement

Korea: Shinhan Bank Discovers Embezzlement by Employee

By Editors | 22/05/2022

Days earlier a Woori Bank employee was arrested for embezzling KRW 61.4 billion between 2012 and 2018.