Enforcement

AML / KYC

Philippines Passes Law to Enhance Financial Consumer Protections

By Sanday Chongo Kabange | 19/05/2022

The law grants regulators enhanced powers to address fraud and consumer complaints in a more timely manner.

AML / KYC

US Charges Crypto CEO for Fraudulent Investment Scheme

By Mark Johnston | 19/05/2022

Eddy Alexandre, the CEO of EminiFX, promised weekly returns would be generated through proprietary robo-advising technology.

Enforcement

Allianz to Pay $6bn to Settle Investor Fraud Cases

By Editors | 18/05/2022

Allianz Global Investors admitted that it violated the federal securities laws, and is disqualified from providing advisory services to US funds for ten years.

AML / KYC

NSW Ministers Working on New AML Laws – Report

By Editors | 17/05/2022

The NSW attorney general and police minister are working on new laws to tackle unexplained wealth and organised crime.

AML / KYC

HK Police Arrest 17 for Using Virtual Banks to Launder Money

By Editors | 16/05/2022

The syndicate members processed the funds through more than 20 online bank accounts since 2021, police said.

AML / KYC

Myanmar Govt Charges Ex-Central Bank Official with Corruption

By Editors | 16/05/2022

Former CBM deputy governor U Bo Bo Nge is being charged by the military government on allegations that caused losses to the government.

Enforcement

APRA Orders Super Trustee to Improve Governance

By Editors | 16/05/2022

APRA said the direction was necessary to ensure NESS Super Pty Ltd expedites the appointment of an additional independent director.

Enforcement

MAS Imposes S$100,000 Civil Penalty for False Trading

By Editors | 13/05/2022

A woman pledged shares for margin purposes, then bought more near the close to artificially raise their closing prices and increase the value of her collateral.

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.