Enforcement

AML / KYC

20 Year Old Pleads Guilty in OCBC Phishing Scam Case

By Editors | 20/04/2022

The individual worked with other youths to provide overseas syndicates control of bank accounts that were used to receive and dissipate funds obtained through scams.

Enforcement

China to Step Up Corruption Crackdown in Capital Markets

By Editors | 19/04/2022

So far this year, nine financial officials were expelled from the CCP, with some facing other disciplinary punishments including criminal prosecution.

AML / KYC

NY Court Acquits Two Philippine Casinos in Bangladesh Bank Case

By Editors | 18/04/2022

Bangladesh Bank says the court did not dismiss the entire case concerning its 2016 hack; only two of the 20 accused were acquitted due to “lack of jurisdiction”.

Enforcement

SEBI Fines BSE, NSE for Failure to Detect Karvy Fraud

By Editors | 17/04/2022

Karvy Stock Broking misused INR 23 billion worth of securities belonging to more than 95,000 clients, pledging them with 8 banks to raise INR 8.5 billion for its own use.

Enforcement

Taiwan FSC Fines Cathay United Bank Over ATM Disruptions

By Darien Choong | 14/04/2022

The bank was fined, temporarily barred from setting up new ATMs, and required to increase its operational risk capital by 30 June.

Enforcement

Tokyo Prosecutors Indict SMBC Nikko Securities Deputy President

By Editors | 14/04/2022

The former deputy president is suspected of colluding with other staff to illegally manipulate stock prices to keep block trade deals with clients from falling through.

Enforcement

SFC Bans China Tonghai Securities Representative for 20 Months

By Editors | 12/04/2022

The representative conducted 1,089 trades in clients’ stock options accounts but was only given specific authorisation for 87 trades of the trades.

Enforcement

Shanghai Bourse Probes First STAR Market Securities Fraud Case

By Editors | 12/04/2022

An optical storage equipment supplier is being investigated for failing to disclose that it granted loans to shareholders and other entities in exchange for pledged assets.

AML / KYC

New York Court Convicts Ex-Goldman Exec in 1MDB Case

By Editors | 11/04/2022

Following an eight-week trial, former Goldman Sachs managing director Roger Ng was convicted on charges of bribery and money laundering. He faces up to 30 years in prison.