Enforcement

    AML / KYC

    GCFFC Calls for Action on Beneficial Ownership Data

    By Manesh Samtani | 26/08/2021

    Beneficial ownership data should be structured and interoperable, collated in a central register, and accessible to all actors fighting financial crime.

    Enforcement

    Indian Police Arrest Karvy Stock Broking Founder for Fraud

    By Editors | 25/08/2021

    The case dates back to 2019, when the brokerage was found to have pledged client securities at banks to secure loans for use as working capital.

    Enforcement

    China Suspends Over 40 IPOs Amid CSRC Regulatory Probe

    By Sanday Chongo Kabange | 25/08/2021

    The CSRC is investigating a broker, a law firm, an asset appraisal firm, and accounting firm over their alleged involvement in share sales.

    Enforcement

    Singapore Police Charges Ex-UOB Banker Over Data Disclosure

    By Editors | 25/08/2021

    The ex-UOB employee accessed customer data from banking systems and disclosed the information to a scammer purporting to represent the Shanghai Police.

    Enforcement

    FMA Identifies AML Breaches by Investment Platform Sharesies

    By Editors | 23/08/2021

    The FMA has ordered Sharesies to amend its onboarding process and implement a process to complete identity verification at onboarding.

    Market Infrastructure

    FSS Korea Launches Probe into Electronic Payment Providers

    By Manesh Samtani | 20/08/2021

    The probe is a response to a growing scandal involving a local gift card provider, which offered users of its app large discounts and then changed its terms.

    Enforcement

    Australian Court Issues Fines in First Criminal Case of Bad Audits

    By Sanday Chongo Kabange | 19/08/2021

    EC Audit and its former director Robert James Evett have been convicted and sentenced to pay fines for failing to follow auditing standards.

    AML / KYC

    CCDI Reveals Details of Corruption in China’s Rural Credit System

    By Sanday Chongo Kabange | 19/08/2021

    Two of the most prominent and well-documented corruption cases disclosed by the CCDI were found at rural credit unions in Anhui and Yunnan.

    AML / KYC

    Singapore Court Jails Key Members of SkillsFuture Scam

    By Ranamita Chakraborty | 17/08/2021

    A husband and wife were jailed for 17 and 14 years respectively after pleading guilty to cheating, forgery and money laundering offences.

    Enforcement

    ASIC Prosecutes 124 Individuals for Failing to Cooperate with Liquidators

    By Editors | 17/08/2021

    Company officers failed to provide registered liquidators access to the company’s books and submit reports on company activities and property.

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