Enforcement

Enforcement

Myanmar Begins Repatriation of Chinese Scam Centre Workers

By Nithya Subramanian | 25/02/2025

The move follows growing pressure from Beijing to shut down the criminal compounds, where trafficked workers run online fraud operations.

Enforcement

FSS Korea to Downgrade Woori Group in Evaluation Report

By Nithya Subramanian | 25/02/2025

The downgrade could prevent Woori Financial Group from moving ahead with plans to acquire Dongyang Life and ABL Life.

AML / KYC

Nigeria Sues Binance for Economic Losses and Back Taxes

By Nithya Subramanian | 25/02/2025

The tax authority contends that Binance has a “significant economic presence” in Nigeria, making it liable for corporate income tax.

Enforcement

Australian Online Safety Commissioner Imposes A$1m on Telegram

By Thisanka Siripala | 24/02/2025

The messaging platform said the fine is “unfair and disproportionate” and indicated its intention to appeal the decision.

Enforcement

US SEC Dropping Cases Against Coinbase, OpenSea

By Thisanka Siripala | 24/02/2025

Coinbase said this is not just a victory for the company, but also for its customers, the US, and “individual freedom”.

Enforcement

South Korea’s Kyongnam Bank Fined $2.8m for Accounting Violation

By Thisanka Siripala | 24/02/2025

The fine is linked to an embezzlement scandal involving a former bank executive recently sentenced to 35 years in jail.

Enforcement

UK CMA Fines Banks $132m for Anti Competitive Conduct

By Thisanka Siripala | 24/02/2025

Citigroup, HSBC, Morgan Stanley, and RBC were fined. Deutsche Bank also participated but was granted immunity for reporting the misconduct.

Enforcement

China Sentences Ex-ICBC Executive Zhang to Death with Reprieve

By Mark Johnston | 24/02/2025

Zhang Hongli was found to have accepted CNY 177 million in bribes in exchange for facilitating loans and securing employment positions for others.

Enforcement

Federal Court Orders AustralianSuper to Pay A$27m Penalty

By Thisanka Siripala | 24/02/2025

AustralianSuper failed to merge duplicate accounts, resulting in members incurring redundant administration fees, insurance premiums, and lost investment earnings.