Enforcement

    AML / KYC

    Police Arrest 1,000 in Interpol Operation Targeting Online Fraud

    By Ranamita Chakraborty | 01/12/2021

    The operation was used to test a new worldwide stop-payment mechanism which Interpol plans to fully embed in police communication channels next year.

    Enforcement

    SAFE Fines Tenpay for Breaching Foreign Exchange Rules

    By Editors | 30/11/2021

    Tenpay failed to submit relevant materials and handle foreign exchange sales services in accordance with regulations.

    Enforcement

    ASIC Files Multiple Court Proceedings Against Westpac

    By Editors | 30/11/2021

    Westpac has already agreed to admit to the allegations, remediate A$80mn to customers, and pay A$113mn in penalties, subject to court approval.

    Enforcement

    APRA Imposes Capital Surcharge on Heritage Bank

    By Editors | 29/11/2021

    Heritage Bank will also have to complete a remediation programme to address governance and risk management concerns.

    Enforcement

    Hong Kong SFC Investigates Ramp-and-Dump Scam

    By Editors | 29/11/2021

    Restriction notices have been sent to two brokerage firms prohibiting them from dealing in assets worth HK$312mn held across 17 trading accounts.

    Enforcement

    Japan FSA Orders Mizuho to Undergo Structural Reforms

    By Editors | 29/11/2021

    Mizuho is directed to formulate plans to improve its governance and prevent more system failures from occurring. Three top executives will resign.

    Enforcement

    HK ICAC Charges Four for Concealing Backdoor Listing

    By Editors | 28/11/2021

    A retired lawmaker and his son concealed an agreement with a third party who agreed to pay them about HK$210mn for control of a listed stock.

    Enforcement

    Hong Kong FRC to Increase Public Disclosures on Investigations

    By Editors | 28/11/2021

    The Financial Reporting Council will increasingly disclose its investigations when cases involve high public interest.

    Enforcement

    ASIC Sues ANZ Over Home Loan Introducer Programme

    By Editors | 27/11/2021

    ASIC says ANZ breached credit laws by accepting customer information and documents from unlicensed individuals, some of which was fraudulent.

    Enforcement

    China Cracks Down on Online ‘Influencers’ for Tax Evasion

    By Darien Choong | 27/11/2021

    Fines against two influencers comes as China cracks down the entertainment and livestreaming industries, including in the securities sector.

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