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AML / KYC
US Fed Ends HSBC 2012 Deferred Prosecution Agreement
By Editors | 06/09/2022
HSBC welcomed the decision, saying its employees have worked hard over the last decade to transform the bank’s financial crime risk management capabilities.
Securities / Derivatives
SFC Suspends Rifa Futures Exec Over ‘Xinguanjia’ Trading Software
By Editors | 06/09/2022
In July, Rifa Futures became the fourth firm to be fined over the use of Xinguanjia. The firm’s managing director has now been suspended for 8 months.
Enforcement
Thai SEC Penalises Bitkub CTO for Insider Trading Violations
By Editors | 05/09/2022
Bitkub’s CTO bought the company’s own digital token, KUB Coin, based on inside information about a proposed acquisition by Siam Commercial Bank.
Enforcement
Korean Authorities Arrest 16 Over Illegal FX Transactions
By Editors | 05/09/2022
In some cases, funds were remitted overseas via commercial banks, disguised as payments for trade businesses to exploit the “Kimchi premium”.
AML / KYC
German Prosecutors Raid JP Morgan as Part of Cum-Ex Probe
By Editors | 04/09/2022
Around 1,500 people are currently under investigation across 50 international and domestic financial institutions and brokers.
Enforcement
Thai SEC Files Suit Against Company Chairman Fake Vaccine Deal
By Editors | 03/09/2022
The chairman disseminated false statements to various media outlets last year saying his company had signed a contract to import Phizer’s Covid-19 vaccines.
Enforcement
Australia: Grant Thornton Auditor Facing Criminal Charges
By Editors | 01/09/2022
The matter reportedly concerns revenue numbers signed off by Grant Thornton for booking in the half-year results of iSignthis Ltd in 2018.
AML / KYC
Malaysian Court Convicts Wife of Najib Razak for Corruption
By Editors | 01/09/2022
Rosmah Mansor was convicted for taking bribes from a contractor in exchange for a government project to supply solar energy to rural schools.
Capital / Liquidity
APRA Frees Westpac from Add-on Liquidity Requirement
By Editors | 01/09/2022
The liquidity add-on was imposed in 2020 in response to breaches which APRA said demonstrated weaknesses in the bank’s risk management and oversight.
AML / KYC
MAS Fines UOBKH for Business Conduct, AML Failures
By Editors | 31/08/2022
UOBKH failed to implement adequate controls for its corporate finance business and to ensure it was subject to internal audit.
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