ENFORCEMENT

Enforcement

UK FCA Fines Barclays £40m Over 2008 Disclosure Failures

By Mark Johnston | 26/11/2024

The FCA said Barclays failed to disclose payments to Qatari entities that helped rescue the bank during the 2008 financial crisis.

Enforcement

Malaysia: FIMM Reprimands Former Consultants for Misconduct

By Nithya Subramanian | 26/11/2024

The three individuals were found guilty of fabricating pay slips, forging signatures, and neglecting the best interests of investors.

Crypto / Digital Assets

Korean Court Declares Haru Invest Bankrupt Amid Crypto Fraud

By Nithya Subramanian | 26/11/2024

The ruling paves the way for asset liquidation. A creditors’ meeting is set for February 2025 to chart the recovery process.

Enforcement

US Authorities Charge Former Co-CIO of WAMCO with Fraud

By Editors | 26/11/2024

Ken Leech disproportionally allocate winning trades to favoured portfolios and loss-making trades to disfavoured portfolios.

Enforcement

S. Korean Police Confirm DPRK’s Role in 2019 Upbit Theft

By Mark Johnston | 25/11/2024

North Korean hackers stole 342,000 Ethereum tokens from Upbit in 2019. At today’s prices the tokens would be worth over $800mn.

Enforcement

Singapore Court Jails Ex-DBS Staff for Unauthorised Access to Customer Data

By Nithya Subramanian | 25/11/2024

Huang Pin Wen was sentenced to eight months and seven weeks in jail for accessing customer information, including at the request of an illegal moneylender.

Sanctions

US State Department “Taking Steps” to Sanction Hong Kong Officials

By Editors | 25/11/2024

The move is a response to the jailing of 45 pro-democracy advocates. China has vowed to take “firm countermeasures” if the sanctions come to pass.

AML / KYC

Singapore Court Fines Jeweller for Failing to Perform CDD

By Nithya Subramanian | 23/11/2024

The case is Singapore’s first prosecution under the Precious Stones and Precious Metals (Prevention of Money Laundering and Terrorism Financing) Act.

AML / KYC

Australia to Expand National Scheme on Unexplained Wealth

By Thisanka Siripala | 23/11/2024

The government tabled in Parliament its response to an independent review of the ‘National Cooperative Scheme on Unexplained Wealth’.