ENFORCEMENT

AML / KYC

Spanish Police Chief Arrested Over Links to Criminal Gangs

By Nithya Subramanian | 13/11/2024

Óscar Sánchez Gil was until recently the head of the fraud and AML division of Spain’s national police force in Madrid.

Enforcement

US PCAOB Revokes Registration of China-based Accounting Firm

By Editors | 13/11/2024

The Shenzhen-based CPA firm was censured and had its registration revoked over reporting failures and failure to cooperate with an investigation.

Enforcement

Korea FSS Fines Shinhan Bank over Prohibited Business Conduct  

By Sanday Chongo Kabange | 13/11/2024

The FSS fined Shinhan Bank KRW 280 million and directed the bank to improve its internal controls for handling vulnerable customers.

Enforcement

Australia Jails Ex-Investment Manager Over False Performance Reports

By Sanday Chongo Kabange | 13/11/2024

The forged portfolio performance verification reports falsely verified or claimed a history of successful investment returns.

Enforcement

Citi, Barclays Facing Penalties in Korea for Illegal Short Selling

By Editors | 12/11/2024

According to local reports, the penalties could reach $14.3mn for Citi and $50mn for Barclays, breaking previous records.

Enforcement

BSP to Probe GCash Over Unauthorised Deductions

By Sanday Chongo Kabange | 12/11/2024

The unauthorised deductions incident was attributed to a “system error”, but the BSP has vowed to investigate.

Enforcement

Nomura Asked to Probe Attempted Murder Case Involving Ex-Employee

By Editors | 12/11/2024

The FSA has asked Nomura to review the incident and analyse its root cause and background, and come up with solutions.

Enforcement

Australia: Parliamentary Inquiry Into Big Four Audit Firms Concludes

By Editors | 12/11/2024

The inquiry identified recommendations to enhance governance, transparency, and accountability within the big four firms.

AML / KYC

HKMA Fines Fubon Bank for Transaction Monitoring Lapses

By Sanday Chongo Kabange | 11/11/2024

HKMA said Fubon had deficiencies in the controls for transmission of transaction data from the core banking system to its transaction monitoring system.