ENFORCEMENT

AML / KYC

China Punishes Former CBIRC Official for Corruption

By Editors | 02/02/2021

The ex-head of the CBIRC’s Shanxi bureau was expelled from the Communist Party and referred for criminal prosecution for suspected bribery.

Enforcement

HK Court Finds JP Morgan Banker Not Guilty of Bribery

By Editors | 02/02/2021

The prosecution had accused the banker of employing the son of a client as a bribe to win IPO business for JP Morgan.

Enforcement

Singapore Authorities Probe Crowdfunding Platform for Misconduct

By Editors | 02/02/2021

The probe is looking into possible offences under the Penal Code and the Securities and Futures Act by group companies belonging to CoAssets Ltd.

Enforcement

Former NAB Executive Jailed Over Scheme to Defrauding Bank

By Editors | 01/02/2021

An events company was issuing and sending invoices to NAB and the former executive was receiving bribes to ensure they were paid.

Enforcement

US Regulator Fines Goldman Over Employee Fingerprinting

By Editors | 28/01/2021

FINRA said Goldman failed to maintain a reasonable system to identify and properly screen individuals who became associated with the firm in a non-registered capacity.

Enforcement

HKMA Suspends Banker Over Photocopied Client Signature

By Editors | 28/01/2021

The banker photocopied a client’s signature onto an instruction form and used it to apply for the issuance of a bank reference letter.

Enforcement

China’s Corruption Watchdog Punishes Former Bank Regulators

By Editors | 27/01/2021

Three former banking regulators were expelled from the CCP and referred for criminal prosecution for accepting bribes and contributing to Baoshang Bank’s failure, among other violations.

AML / KYC

Australian Police Arrest Dutch National on Money Mule Charges

By Editors | 27/01/2021

The 22-year-old was used to receive funds stolen from Australian bank accounts by a cybercrime syndicate before he transferred it overseas with Bitcoin.

Enforcement

Five HK Bankers Charged for Misusing Customer Data to Sell Loans

By Editors | 27/01/2021

Former DBS staffers accepted illegal commissions to obtain confidential customer data for use by sales staff in promoting personal loan business.