Enforcement

Enforcement

HKMA Adjusts Scope of Mandatory Reference Checking Regime

By Manesh Samtani | 05/05/2021

The HKMA has adjusted the scope of the regime, shortened the record retention requirement, and lengthened the time allowed to respond to an MRC request.

AML / KYC

OFAC Penalises MoneyGram & SAP for Sanctions Violations

By Editors | 05/05/2021

In both cases, OFAC cited voluntary self-disclosures, the non-egregiousness of the violations, and remedial action as the reasons for the penalty amounts.

Enforcement

ASIC Finds Client Detriment in Review of IOOF Licensees

By Ranamita Chakraborty | 03/05/2021

In a statement, IOOF said that the advice file reviews highlighted by ASIC were already part of its existing remediation programmes of work.

Enforcement

SG Police Lays 23 Forgery Charges Against Hin Leong Founder

By Editors | 03/05/2021

Lim Oon Kuin now faces a total of 25 charges – 14 counts of abetment of forgery for the purpose of cheating, and 11 counts of abetment of forgery simpliciter.

Enforcement

Australian Court Charges Woman for Superannuation Fraud

By Editors | 01/05/2021

A woman is said to have submitted multiple false hardship claims on behalf of others to gain early access to A$330,000 in superannuation.

Enforcement

CBIRC Warns Banks of Stronger Penalties for Shareholder Violations

By Editors | 01/05/2021

Banks and insurers are asked to conduct self-assessments and improve their accountability standards and procedures to guard against illegal behaviour.

Enforcement

SG Police Issue Forgery Charges in Nickel Trading Fraud Case

By Editors | 30/04/2021

With the latest charges, Ng Yu Zhi now faces a total of 11 counts of cheating, fraudulent trading and forgery. He will return to court on 17 May.

AML / KYC

Australia Scraps Plan to Introduce Beneficial Ownership Register

By Ranamita Chakraborty | 30/04/2021

Senator Jane Hume reportedly refused to back the register, a move experts say will entrench Australia as a money laundering haven.

Enforcement

SEC Thailand Seeks Investigative, Prosecutorial Powers

By Editors | 29/04/2021

The SEC seeks powers to investigate and prosecute its own cases and speed up enforcement against capital market violations.