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AML / KYC
Pakistan Issues Consolidated List of Sanctioned Individuals, Entities
By Editors | 23/08/2020
The Ministry of Foreign Affairs says various sanctions were already in place against almost all of the individuals and entities listed by the United Nations Security Council.
Enforcement
Scotiabank Resolves DOJ, CFTC Spoofing Charges for $127.4m
By Editors | 20/08/2020
Four Scotiabank traders based in New York, London and Hong Kong placed thousands of orders in precious metals futures between 2008 and 2016 to manipulate prices.
Securities / Derivatives
Singapore Authorities Charge Five Remisiers for False Trading
By Editors | 20/08/2020
The five individuals charged were former remisiers for Phillip Securities, OCBC Securities, DBS Vickers Securities, and Maybank Kim Eng Securities.
Enforcement
Sri Lanka to Commence Probe into State Bank Fraud
By Duruthu E Chandrasekera | 20/08/2020
Bank of Ceylon, People’s Bank, National Savings Bank, Regional Development Bank, and their related institutions will be probed for irregularities.
Enforcement
ASIC Launches Civil Proceedings in Two Fees-for-no-service Cases
By Sanday Chongo Kabange | 20/08/2020
ASIC has commenced ‘fees for no service’ cases against Asgard Capital Management, BT Funds Management, and StatePlus Super.
AML / KYC
APAC Regulators Issue Nearly $4bn in AML Fines in H1 2020
By Editors | 19/08/2020
Fraudulent activity brought on by Covid-19 related initiatives may result in enforcement actions later in the year and into 2021, says Fenergo’s Rachel Woolley.
Enforcement
Top Chinese Court Issues Guidance on Punishing ChiNext Crimes
By Editors | 19/08/2020
The “zero tolerance” guidance came days before the first batch of companies are set to debut under ChiNext’s new registration-based system.
Enforcement
MAS Bans Two Individuals for Fraud and Dishonest Conduct
By Editors | 19/08/2020
Prohibition orders were issued against former representatives of Prudential Assurance Company Singapore and Bank of Singapore in two unrelated cases.
AML / KYC
PEPs in the Limelight: Three Components to Mitigate Risk
By Editors | 19/08/2020
To understand the money laundering risks they face, financial firms need a robust and scalable approach to PEP identification and due diligence, says Refinitiv’s Michael Meadon.
Enforcement
China’s P2P Crackdown Leaves Just 29 Operators in Business
By Manesh Samtani | 17/08/2020
Savers who invested in the thousands of now-defunct P2P platforms over the last several years have not yet managed to recover their funds.
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