Enforcement

AML / KYC

US Resident Pleads Guilty to Singapore Money Laundering

By Editors | 11/04/2018

American convinced victim to make $600,000 investment with promise of 30% return, but instead transferred to Singapore account.

Enforcement

Former Maybank Executive Jailed for Insider Trading

By Samuel Riding | 11/04/2018

Ex head of equity markets at Malaysia’s largest bank also fined $250,000 for offences which occurred more than 10 years ago.

Enforcement

New Chief of S.Korea’s FSS Targets Bank Profiteering from Predatory Lending

By Manesh Samtani | 05/04/2018

New FSS chief to protect investors and root out irregularities by targeting predatory lending, bank profit structures, family-run conglomerates.

Enforcement

China Launches Crackdown on Unlicensed Online Asset Managers

By Editors | 05/04/2018

Chinese authorities step up focus on the online asset management industry to clean up unlicensed firms.

Enforcement

PNB Investigation Reveals Systemic Failures at Bank, RBI

By Garima Chitkara | 05/04/2018

PNB allegedly misled the regulator about the progress of its Swift integration. Indian law enforcement noted that an ill-defined risk-based supervisory approach may have caused the RBI to miss the fraud.

AML / KYC

Sri Lanka Investigating “Suspicious” Chinese-held Bank Accounts

By Garima Chitkara | 02/04/2018

Sri Lanka’s financial crimes unit is investigating suspicious transactions originating from three Chinese-held accounts with LKR957 million.

AML / KYC

Australia’s Largest Tax Fraud Case Ends with 10-year Jail Sentence

By Samuel Riding | 02/04/2018

Duo spent $103mn in illicit gains on Rolls Royces, a Lamborghini, an Aston Martin, a Mercedes, a BMW and yachts

Enforcement

CSRC Flexes Muscles with Internal Control, Market Integrity Rules

By Samuel Riding | 02/04/2018

Securities regulator, which remains independent after recent reshuffle, tightens rules on investment bank internal controls, securities and futures market participation.

Enforcement

ICICI Bank Fined for Failing to Disclose Debt Securities Sale

By Garima Chitkara | 31/03/2018

ICICI Bank sold debt securities from its held-to-maturity portfolio in excess of 5 percent of total value without the necessary disclosure in contravention with RBI rules.