Enforcement

Enforcement

ASIC Charges Firm for Offering Crypto Loans Without Credit Licence

By Sanday Chongo Kabange | 09/04/2022

ASIC has charged Helio Lending for falsely representing that it had a credit licence that allowed it to offer cryptocurrency-backed loans.

Enforcement

Singapore Court Upholds Convictions of Russian, Singapore Nationals

By Editors | 08/04/2022

The two men served as resident directors for companies, declaring themselves rather than their Russian clients as the beneficial owners.

Enforcement

Westpac Penalised in Consumer Credit Insurance Mis-selling Case

By Editors | 08/04/2022

Westpac issued consumer credit insurance policies to customers who did not request the product, then asserted a right to payment which customers were not liable for.

AML / KYC

US, German Authorities Target World’s Largest Darknet Market

By Manesh Samtani | 07/04/2022

OFAC has sanctioned Russia-based website Hydra Market and crypto exchange Garantex for facilitating transactions for ransomware actors.

AML / KYC

Singapore Jails Man for Money Laundering, Email Fraud

By Editors | 07/04/2022

The man received funds in his and his company’s bank accounts that were derived from chearing offences perpetrated overseas and locally.

AML / KYC

Singapore Tightens Laws on Technology Risk, Crypto Assets

By Sanday Chongo Kabange | 06/04/2022

FIs would face penalties over SGD 1 million for breaching TRM requirements. VASPs will have to be licensed to offer services in Singapore.

Enforcement

Korea: FSC, FSS Relaunch Special Investigations Team

By Editors | 05/04/2022

The team comprises officials from the FSC and FSS, who will be authorised to investigate illegal acts in the capital market more quickly.

Enforcement

ASIC Launches Federal Court Proceedings Against Macquarie

By Editors | 05/04/2022

ASIC says Macquarie failed to properly detect and prevent unauthorised fee transactions by now-convicted former financial adviser, Ross Andrew Hopkins.

Enforcement

Former CSRC Official to Face Criminal Charges for Taking Bribes

By Editors | 04/04/2022

The former official accepted gifts, money, shares of companies, luxury goods and other personal benefits as bribes while he was tasked with reviewing IPO applications.