ENFORCEMENT

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    Enforcement

    DOJ Settles With McKinsey Over South Africa Bribery Scheme

    By Nithya Subramanian | 06/12/2024

    McKinsey will pay $122mn to resolve an investigation into bribes paid to South African officials to secure lucrative consulting contracts.

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    Enforcement

    ASIC Calls Out Breach Reporting Delays & Deficiencies

    By Thisanka Siripala | 06/12/2024

    A review of the compliance arrangements of 14 licensees identified delays and deficiencies in how they identify, escalate, and report breaches.

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    Enforcement

    China: Former CISF Official Sentenced to 13 Years for Bribery

    By Mark Johnston | 06/12/2024

    A former China Insurance Security Fund official has been sentenced to 13 years in prison for bribery and abuse of power.

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    Enforcement

    PBOC Refines Discretionary Criteria for Imposing Administrative Penalties

    By Editors | 06/12/2024

    The PBOC said it will ensure the type and extent of penalties match the facts, nature, circumstances and degree of social harm of the illegal act.

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    Enforcement

    Nomura Announces Measures to Address Unethical Behaviour by Staff

    By Thisanka Siripala | 05/12/2024

    Ten executives will take pay cuts and staff monitoring will be enhanced after a former employee was indicted on attempted murder charges.

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    AML / KYC

    Former EU Justice Commissioner Investigated for Money Laundering

    By Nithya Subramanian | 05/12/2024

    Belgian police searched the homes of Didier Reynders amid allegations of laundering funds through lottery ticket purchases.

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    Enforcement

    Barclays Agrees to Settle Class Action Over Securities Over-issuances

    By Thisanka Siripala | 05/12/2024

    Barclays agreed to pay $19.5mn to settle claims that shareholders lost money because they relied on the bank’s assurances that it had strong internal controls.

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    AML / KYC

    US, UK Target Major Russian Sanctions Evasion Network

    By Editors | 05/12/2024

    OFAC sanctioned five individuals and five entities associated with the network. The NCA said 84 arrests have been made and $25mn has been seized.

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    Enforcement

    OFAC Fines German Firm for Conspiracy to Violate Iran Sanctions

    By Editors | 04/12/2024

    OFAC said Aiotec GmbH conspired over four years to cause a US company to buy and ship an entire polypropylene plant from Australia to Iran.

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    Enforcement

    Fugitive Singaporean Tycoon Nabbed After Absconding for 19 Years

    By Nithya Subramanian | 04/12/2024

    The tycoon and his wife were arrested in Malaysia after allegedly embezzling over $51mn and fleeing Singapore in 2005.

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