Enforcement

Enforcement

Singapore Court Jails Ex-DBS Staff for Unauthorised Access to Customer Data

By Nithya Subramanian | 25/11/2024

Huang Pin Wen was sentenced to eight months and seven weeks in jail for accessing customer information, including at the request of an illegal moneylender.

Sanctions

US State Department “Taking Steps” to Sanction Hong Kong Officials

By Editors | 25/11/2024

The move is a response to the jailing of 45 pro-democracy advocates. China has vowed to take “firm countermeasures” if the sanctions come to pass.

AML / KYC

Singapore Court Fines Jeweller for Failing to Perform CDD

By Nithya Subramanian | 23/11/2024

The case is Singapore’s first prosecution under the Precious Stones and Precious Metals (Prevention of Money Laundering and Terrorism Financing) Act.

AML / KYC

Australia to Expand National Scheme on Unexplained Wealth

By Thisanka Siripala | 23/11/2024

The government tabled in Parliament its response to an independent review of the ‘National Cooperative Scheme on Unexplained Wealth’.

Crypto / Digital Assets

Former CSRC Official Found Taking Bribes Via Cryptocurrency

By Nithya Subramanian | 23/11/2024

The CCDI said Yao Qian abused his authority to benefit specific technology providers and “used virtual currency to trade power for money”.

Enforcement

SFC Suspends Former Yuanta Securities Licensee for 26 Months

By Mark Johnston | 22/11/2024

The former licensee had a secret profit-sharing agreement with a client, failed to disclose personal dealings, and made false representations to the SFC.

Enforcement

Former Richmond Fed Official Pleads Guilty to Insider Trading

By Mark Johnston | 22/11/2024

The official used confidential information about FIs under Federal Reserve Bank of Richmond supervision to profit from stock trading.

Crypto / Digital Assets

Former FTX CTO Gary Wang Sentenced, Avoids Prison Term

By Nithya Subramanian | 21/11/2024

Wang’s assistance had helped convict Sam Bankman-Fried. He even built a software programme to help the DOJ detect fraud in financial markets.

Enforcement

Korea Extradites Russian National to US to Face Cybercrime Charges

By Editors | 21/11/2024

Evgenii Ptitsyn and co-conspirators developed and offered access to Phobos ransomware to enable others to encrypt victims’ data and extort ransom payments from them.