ENFORCEMENT

    image

    Enforcement

    China Fines PwC $62m, Suspends Firm for Six Months

    By Manesh Samtani | 14/09/2024

    PwC’s China unit helped Evergrande’s mainland flagship unit, Hengda Real Estate Group, to overstate its revenue by CNY 564 billion from 2018 to 2020.

    image

    AML / KYC

    Korea Offering Rewards for Self-Reporting of Fraud Crimes

    By Editors | 13/09/2024

    The National Police Agency said those who self-report fraud crimes will be considered for more lenient sentencing as well as monetary rewards.

    image

    Enforcement

    US Firm Deere & Co Fined $10m in Thailand Bribery Case

    By Mark Johnston | 13/09/2024

    The company’s subsidiary paid bribes to Thai officials to win government contracts and employees at another company to win sales.

    image

    AML / KYC

    OFAC Sanctions Cambodian Tycoon for Scam Centre Operations

    By Manesh Samtani | 13/09/2024

    Billionaire Ly Yong Phat was sanctioned for his role in human trafficking and human rights abuses tied to scam centre operations he controls in Cambodia.

    image

    Enforcement

    China Requiring Investment Bankers to Hand In Passports – Report

    By Editors | 13/09/2024

    Three high-profile investment bankers have been detained since August, amid intensified scrutiny of IPOs and other capital-raising activity.

    image

    AML / KYC

    Swedish Court Sentences Former Swedbank CEO to Jail Term

    By Nithya Subramanian | 13/09/2024

    Birgitte Bonnesen was sentenced to 15 months in prison for providing misleading information about Swedbank’s money laundering issues in Estonia.

    image

    Crypto / Digital Assets

    Singapore Court Jails Crypto Firm Director for Ponzi Scheme

    By Nithya Subramanian | 12/09/2024

    Chen Wei, Director of A&A Blockchain Technology Innovation, has been sentenced to four years in prison for deceiving over 700 investors.

    image

    Enforcement

    Singapore to Issue First Charges Under New Anti-Scam Laws

    By Nithya Subramanian | 12/09/2024

    Around 40 individuals will be charged with new offences under the CDSA and CMA for selling their bank accounts and Singpass credentials.

    image

    Crypto / Digital Assets

    UK FCA Charges Man for Operating Illegal Crypto ATM Network

    By Nithya Subramanian | 12/09/2024

    The London resident is the first individual to be criminally prosecuted for unregistered crypto activity in the UK.

    image

    Enforcement

    ASIC Report Highlights Hardship Misconduct as Key Focus

    By Thisanka Siripala | 12/09/2024

    ASIC said it is actively conducting investigations into suspected breaches by lenders of their financial hardship obligations.

    JOIN OUR NEWSLETTER

    A daily selection of top stories from the Regulation Asia editorial team