Enforcement

Enforcement

Vietnam Investigating $660mn Cryptocurrency Fraud

By Samuel Riding | 16/04/2018

Central bank concerned up to 32,000 people have been defrauded; Prime Minister urges regulators to ‘toughen management’ of cryptocurrency activity.

Enforcement

S.Korea Launches Bribery Probe into New FSS Chief

By Manesh Samtani | 15/04/2018

Prosecutors on Friday raided KRX and Woori Bank, two of the institutions that allegedly paid for Kim Ki-sik’s 2014 an 2015 overseas trips.

Capital / Liquidity

RBI Fines IDBI Bank for Bad Loan Provisioning Failures

By Garima Chitkara | 13/04/2018

RBI fines state-owned lender IDBI Bank INR30 million for non-compliance with bad loan recognition and provisioning norms; ruling will not have a material impact on the bank, said IDBI.

Enforcement

Taiwan Regulator Censures 54 Managers at State Owned Banks

By Editors | 12/04/2018

Taiwan FSC censured and demoted 54 managers at seven state banks for their involvement in a $679mn syndicated loan-fraud scandal.

Enforcement

Samsung Securities Dividend Error Prompts Industry Wide Probe

By Manesh Samtani | 12/04/2018

The firm mistakenly paid out dividends worth 33 times its market cap; FSS will inspect how unauthorised ‘ghost stocks’ were sold by employees.

Enforcement

Alipay Fined for Customer Rights, Data Protection Failures

By Editors | 12/04/2018

The company did not ensure customers had sufficient product information, failed to comply with rules on customer data, included misleading information in ads.

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.