Enforcement

AML / KYC

China Toughens Penalties for Underground Banks

By Editors | 12/02/2019

Operators of underground banks engaging in illegal forex trading and cross border transfers will face up to 5 years imprisonment, more in the most serious cases.

Enforcement

APRA Issues Update on Implementation of Hayne Recommendations

By Editors | 11/02/2019

APRA details the work already underway to implement the Recommendations and confirms it is examining the 12 matters referred by the Royal Commission.

Enforcement

NAB Chief Steps Down Amid Royal Commission Criticism

By Editors | 07/02/2019

Commissioner Hayne said in his Final Report that NAB “stands apart” from the other major banks and questioned whether its senior leadership was capable of reforming the bank’s culture.

Enforcement

SEBI Directs Exchanges to Check Volatile Stocks for Manipulation

By Editors | 07/02/2019

SEBI has asked the BSE and NSE to boost intra-day surveillance to check unusually volatile stocks for possible manipulation.

Enforcement

Royal Commission Final Report Packs a Powerful Punch

By Matthew Chan | 04/02/2019

The Final Report on Australia’s Royal Commission packs a swift and powerful punch which may well be felt for some time, says public policy specialist Matthew Chan.

AML / KYC

UPDATED – Bangladesh Bank Files New York Lawsuit over Cyber Heist

By Editors | 04/02/2019

Bangladesh Bank has filed a $66mn lawsuit against Philippines-based RCBC and others over the 2016 bank heist, where hackers stole $101mn from its account with the New York Fed.

Enforcement

PBOC Sets Up New Bureau to Oversee Financial Regulation

By Editors | 04/02/2019

China’s central bank has set up a new macro-prudential management bureau to monitor financial systemic risks, draft rules and advise on currency issues.

Enforcement

India Launches Money Laundering Probe Against Former ICICI Bank Chief

By Editors | 03/02/2019

India’s Enforcement Directorate will seek to determine if alleged kickbacks generated in loan deals worth $262mn were laundered to create tainted assets.

AML / KYC

Chinese Supreme Court Directs Police on Illegal Fundraising Crackdown

By Editors | 31/01/2019

Police officers found to be negligent in enforcing against illegal fundraising through online channels could face criminal charges.