ENFORCEMENT

Enforcement

PBOC Fines Two Leading Securities Firms for AML Violations

By Editors | 07/11/2024

The two firms were penalised for failures to properly identify customers and submit suspicious transaction reports, and for conducting transactions with unidentified customers.

Fintech / Regtech

Interpol-led Operation Takes Down Thousands of Servers Liked to Cybercrime

By Nithya Subramanian | 07/11/2024

Hong Kong Police took more than 1,037 servers offline, while Macau Police took down 291 servers as part of Operation Synergia II.

Enforcement

Australian Police Raid PwC Offices Amid Tax Leaks Scandal

By Mark Johnston | 07/11/2024

Australian federal police are examining whether former PwC Australia staff committed a crime by disclosing official secrets.

Enforcement

Sumitomo Mitsui Trust Bank Probing Insider Trading Case

By Thisanka Siripala | 07/11/2024

Sumitomo Mitsui Trust Bank disclosed that a former employee used non-public company information to conduct multiple insider trading transactions.

AML / KYC

Singapore Court Jails Former Company Director for Money Laundering

By Nithya Subramanian | 07/11/2024

The former director allowed a Chinese money laundering syndicate to use company accounts in Singapore to receive proceeds of criminal conduct.

Enforcement

SFC Imposes 15-Year Ban on Former Hedge Fund Exec

By Sanday Chongo Kabange | 07/11/2024

The SFC barred the former chief investment officer of a hedge fund from re-entering the industry for 15 years for false trading.

Enforcement

US Charges Chinese Hedge Fund Manager for Stealing Trade Secrets

By Nithya Subramanian | 06/11/2024

Xiao Zhang allegedly stole code, projects and research from the US investment firm employing him with the intent of establishing his own operation in China.

Enforcement

FSS Now Also Probing KB Securities in Korea Zinc Case

By Editors | 06/11/2024

KB Securities joins Mirae Asset Securities as a firm being probed over Korea Zinc’s recent share buyback and capital increase plan.

Crypto / Digital Assets

Korea to Prosecute Unfair Trading Case Involving Virtual Assets

By Editors | 05/11/2024

This is the first case of unfair trading referred for prosecution since the Virtual Asset User Protection Act came into force in July.