Enforcement

AML / KYC

Hong Kong: Six Arrested for Laundering HK$2.5bn

By Sanday Chongo Kabange | 26/04/2021

The six arrested persons opened 60 personal accounts at various banks and made over 2,600 suspicious transactions.

Enforcement

RBI Restricts Amex, Diners Club for Data Storage Violations

By Editors | 26/04/2021

American Express and Diners Club were found to be non-compliant with the RBI’s 2018 directions requiring payment system data to be stored onshore.

Enforcement

Korea FSS Imposes Light Punishments on Shinhan Execs

By Editors | 26/04/2021

Shinhan Bank’s CEO and Shinhan Financial Group’s Chairman received lighter punishments than expected over the Lime mis-selling scandal.

Enforcement

SG Police Lay More Charges in Nickel Trading Fraud Case

By Editors | 26/04/2021

Ng Yu Zhi allegedly cheated five individuals into paying around S$8.8mn for nonexistent forward contracts purported to be for the sale of nickel to a metals trader.

Enforcement

Taiwan FSC Fines Fund Managers for Stock Manipulation

By Ranamita Chakraborty | 25/04/2021

The three fund managers bought shares in Far Eastern Department Store at the request of a former official who has since been charged with corruption.

Enforcement

FINMA Opens Probe Into Credit Suisse Archegos Losses

By Sanday Chongo Kabange | 24/04/2021

The Swiss regulator said it will appoint a third-party agent to investigate “possible shortcomings in risk management” at Credit Suisse.

Enforcement

ASIC Seeks Feedback on New Breach Reporting Guidance

By Manesh Samtani | 23/04/2021

The draft regulatory guide provides clarification on what constitutes a reportable situation under the upcoming breach reporting reforms.

Enforcement

SFC, HK Police Make Arrest Four More in Ramp-and-dump Probe

By Editors | 23/04/2021

Three of the four are senior executives of a listed company. They are said to have embezzled over HKD 19 million of the listed company’s funds.

AML / KYC

SFC Imposes Lifetime Ban on Co-CEOs of IDS Forex Ltd

By Editors | 23/04/2021

The co-CEOs knew of their chairman’s arrest and conviction in Korea for fraud but did not report the events to the SFC.