Enforcement

AML / KYC

Indian AML Investigators Threatened, Coerced Xiaomi Execs – Reports

By Editors | 11/05/2022

In a court filing, Xiaomi India alleges that Enforcement Directorate officials threatened two of its executives and their families with physical violence during questioning.

Enforcement

Taiwan FSC Fines KGI Bank Over Misappropriated Client Assets

By Editors | 11/05/2022

KGI Bank was fined after one employee misappropriated customer funds and another improperly executed customer transactions.

AML / KYC

US SEC, DOJ File Fraud Charges Over $62mn Crypto Fraud

By Editors | 10/05/2022

MCC International Corp and its founders were charged for selling fraudulent investment plans that promised daily returns from crypto mining and robotic trading.

Enforcement

Cum-Ex Scandal Widens like a Regulatory Inquisition 

By Peter Guy | 10/05/2022

A common tax arbitrage trading strategy is now being prosecuted as outright tax avoidance, catching global banks and traders in a broad net.

AML / KYC

US Court Orders BitMEX Co-Founders to Pay $30m in Fines

By Editors | 08/05/2022

The orders follow the CFTC’s $100mn settlement with five BitMEX entities last year over violations of US derivatives and AML regulations.

Enforcement

PBOC, CBIRC Probe Rural Banks Over Service Disruptions

By Editors | 08/05/2022

Customers of multiple rural banks complained that banking service disruptions have prevented them from withdrawing their money.

Enforcement

CBIRC Warns Three FIs Over Complaints Handling Violations

By Editors | 07/05/2022

ICBC, China Everbright Bank and China Post Life Insurance violated the CBIRC’s rules for handling customer complaints and reporting complaints data.

Enforcement

Two Convicted in Singapore’s Largest-ever Market Manipulation Case

By Editors | 06/05/2022

Two individuals were convicted on 349 charges for controlling and using 187 trading accounts to manipulate three penny stocks before they collapsed in October 2013.

Enforcement

Australian Court Penalises RI Advice Over Cybersecurity Failures

By Editors | 06/05/2022

The ruling is the first of its kind in Australia, and follows cyber incidents that occurred at authorised representatives of RI Advice between 2014 and 2020.