Enforcement

AML / KYC

Singapore Police, Banks Collaborate to Thwart Scammers

By Editors | 03/09/2019

Since the Anti-Scam Centre was set up in June, DBS, OCBC and UOB have frozen 815 bank accounts and recovered S$840,000 in scam-related losses.

Enforcement

APRA to Improve Capabilities to Combat Non-Financial Risks

By Editors | 30/08/2019

In its four-year corporate plan, APRA identifies four areas of strategic focus, including to improve cyber-resilience and governance standards in the financial sector.

Enforcement

Tokyo Bourse Penalises Nomura for Information Leak

By Editors | 30/08/2019

The TSE says internal controls at Nomura Securities were insufficient, and measures it took after a similar incident in 2012 did not seem to have improved compliance.

Enforcement

ASIC Focuses on Misconduct in Four-Year Corporate Plan

By Editors | 29/08/2019

ASIC will expand its use of behavioural sciences, data and technology and position itself as a more strategic and agile regulator.

AML / KYC

Philippine Police Arrest Former Govt Official for Banking Law Violations

By Editors | 28/08/2019

Former foreign affairs secretary Perfecto Yasay Jr is reportedly accused of conspiring to obtain a $6.7mn loan for a company without reporting the loan to the central bank.

Enforcement

ASIC Allows AFCA to Name-and-Shame Financial Firms

By Editors | 27/08/2019

ASIC says the move will enhance transparency and accountability of firms’ performance in complaints handling, and of AFCA’s own decision-making.

Enforcement

US SEC Fines Deutsche Bank $16m for Corrupt Hiring Practices

By Editors | 27/08/2019

Between 2006 and 2014, Deutsche Bank hired relatives of executives of Chinese and Russian state-owned enterprises to generate business for the bank.

Enforcement

NAB Faces Potential A$535 Penalty for Using Unlicensed Loan Referrers

By Editors | 26/08/2019

ASIC has initiated federal court proceedings in relation to misconduct by 16 NAB bankers who accepted loan information and documentation from unlicensed introducers.

Enforcement

AMAC Targets Illegal Fundraising by Fund Managers

By Editors | 25/08/2019

Some managers of privately-offered funds are using capital intended for specific investments on themselves or to illegally operate P2P lending businesses.