Enforcement

Enforcement

ASIC Secures Court Victory in Unlawful Fees Case Against Payday Lender

By Thisanka Siripala | 26/03/2025

The court found that Sunshine Loans breached Australia’s credit laws by charging a fee to borrowers who sought to alter their loan repayment terms.

AML / KYC

Gambling Sector Remains in AUSTRAC’s Gunsights, As Court Looms for Star

By Nathan Lynch | 26/03/2025

AUSTRAC will continue to target gambling companies where “the risk has been large and the responsibility has been negligent.”

Enforcement

KoFIU Probing Foreign Crypto Exchanges Targeting Korean Users

By Mark Johnston | 26/03/2025

KoFIU is gathering evidence for damages cases against five foreign crypto exchanges operating without registration.

Enforcement

Malaysia to Tighten Semiconductor Regulations Amid US Pressure

By Nithya Subramanian | 25/03/2025

The US has asked Malaysia to monitor every shipment containing Nvidia chips and ensure they are not diverted to China in violation of export controls.

Enforcement

Japanese Shinkin Bank Ordered to Rectify AML Failings

By Thisanka Siripala | 25/03/2025

Ugo Shinkin Bank didn’t implement the FSA’s AML/CFT Guidelines by March 2024 as required.

Enforcement

SFC Penalises Brokerage and MiC for Poor Margin Financing Controls

By Sanday Chongo Kabange | 25/03/2025

The SFC fined Enlighten Securities HKD 5 million and suspended its manager-in-charge for seven months.

AML / KYC

NZ DIA Issues Formal Warning to NZForex for AML Failures

By Thisanka Siripala | 25/03/2025

3,182 transactions over six years were not reported to the FIU due to a system issue that was identified and self-reported by NZForex.

Enforcement

MAS Imposes Six-Year Ban on ex-Financial Adviser

By Mark Johnston | 24/03/2025

A former Professional Investment Advisory Services representative has received a prohibition order for forgery and cheating convictions.

Sanctions

OFAC Publishes Final Rule Extending Record-keeping Requirements

By Editors | 24/03/2025

The extension of record-keeping requirements is meant to align with the extension of the statute of limitations for sanctions violations.