Enforcement

Enforcement

FSS Korea Directs OCBC to Fix Internal Control Deficiencies

By Nithya Subramanian | 16/01/2025

The FSS identified deficiencies at OCBC’s Seoul branch relating to dealing desk internal controls, real estate PF loan evaluations, and risk management

Enforcement

Zambia Sanctions StanChart for Mis-selling China Property Bond

By Mark Johnston | 16/01/2025

Zambia’s SEC said Standard Chartered failed to disclose material information and used contract clauses which placed all responsibility for risk on clients

Enforcement

AFCA Working to Resolve Complaints from Latitude Cyber Attack

By Thisanka Siripala | 16/01/2025

AFCA has 224 open complaints over the 2023 cyber-attack at Latitude Financial Services, all of which should be resolved by 30 June 2025.

AML / KYC

AEON Bank President & Risk Head Dismissed Over AML Failures

By Thisanka Siripala | 15/01/2025

The president of AEON Financial Services also resigned after the banking subsidiary was ordered to correct serious AML deficiencies

Capital / Liquidity

FSC Korea Includes Crypto Measures in Work Plan for 2025

By Editors | 14/01/2025

The annual work plan also includes measures to support market stability and the real economy, promote innovation in the financial industry, and enhance the capital market.

AML / KYC

Hong Kong Works to Rescue Citizens from Scam Compounds

By Manesh Samtani | 14/01/2025

HK task force visited Thailand seeking assistance to secure the return of 12 individuals believed to be detained in scam compounds

Enforcement

US SEC Fines 14 More Firms for Record-keeping Violations

By Thisanka Siripala | 14/01/2025

The latest penalties were imposed on units of Robinhood, Blackstone, Apollo, KKR, Charles Schwab, Santander and others.

Enforcement

MAS Imposes Civil Penalty Action in False Trading Case

By Nithya Subramanian | 14/01/2025

Gui Boon Sui was fined S$350,000 and barred from being involved in the management of a company for two years

Enforcement

US Grand Jury Indicts Three Russians Who Operated Crypto Mixers

By Manesh Samtani | 14/01/2025

The defendants operated Blender.io and Sinbad.io, which were used to launder funds stolen from victims of ransomware, virtual currency thefts, and other crimes.