Enforcement

Enforcement

Chinese Regulators Crack Down on Margin Lending Practices

By Editors | 06/05/2025

Several mainland securities firms have been penalised for allowing investors to withdraw cash obtained from margin loans.

AML / KYC

BNM Fines Two MSB Licensees for Sanctions Screening Gaps

By Editors | 04/05/2025

Merchantrade Asia and JAGS Money failed to update their sanctions databases promptly. Both have since taken remedial measures.

Enforcement

Land Bank of Taiwan Penalised for Embezzlement by Ex-Employee

By Editors | 04/05/2025

A janitor was collecting fees for water and electricity from tenants at Land Bank of Taiwan’s premises and then embezzled the funds for more than 7 years.

Enforcement

Korea FSS to Commence Inspections of Asset Managers in Mid-May

By Editors | 04/05/2025

The on-site inspections are expected to focus on the appropriateness of collateral assets, credit risk, fees for synthetic ETFs, and arrangements with liquidity providers.

Enforcement

NZ High Court Orders Westpac to Pay Penalty for Misleading Customers

By Sanday Chongo Kabange | 03/05/2025

Westpac was fined for failing to deliver contractually agreed discounts to over 20,000 customers, a breach of the FMCA’s fair dealing provisions.

AML / KYC

FinCEN Moves to Cut Off Cambodia’s Huione Group from US Financial System

By Nithya Subramanian | 02/05/2025

FinCEN said Huione Group laundered over $4 billion in illicit funds linked to North Korean cyber heists and cryptocurrency scams across Southeast Asia.

Enforcement

Korea Launches Amnesty Programme for Financial Crime Offenders

By Nithya Subramanian | 02/05/2025

Authorities have offered leniency to those who voluntarily turn themselves in or report accomplices, with rewards of up to KRW 100 million for tips leading to arrests.

Enforcement

RBI Approves Interim Leadership Committee for IndusInd Bank

By Nithya Subramanian | 02/05/2025

The interim executive committee was formed after the abrupt exit of CEO Sumant Kathpalia, who resigned amid controversy over misreported derivative trades.

Enforcement

ASX Outlines CHESS Resourcing Plan in Response to RBA Rebuke

By Sanday Chongo Kabange | 02/05/2025

ASX has committed to a series of actions to further strengthen its resourcing arrangements for the maintenance and support of CHESS.