Enforcement

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    AML / KYC

    Singapore: $1.4b from Overseas Suspects Surrendered to State

    By Nithya Subramanian | 20/11/2024

    Police said 15 of 17 suspected money launderers who fled Singapore agreed to surrender assets to end the cases against them.

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    Enforcement

    ASIC Sets Out Enforcement Priorities for 2025

    By Sanday Chongo Kabange | 20/11/2024

    ASIC’s enforcement priorities reflect the increased risks consumers are facing that are being driven by cost of living pressures.

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    Enforcement

    Singapore Court Sentences Hin Leong Founder to 17.5 Years Jail

    By Nithya Subramanian | 19/11/2024

    OK Lim was sentenced for defrauding HSBC and instigating forgery. The court said his actions severely damaged Singapore’s reputation.

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    Enforcement

    ASX Files Defence in ASIC’s Misleading Statements Case

    By Sanday Chongo Kabange | 19/11/2024

    CEO Helen Lofthouse said there was a “reasonable basis” for the statements ASX made about the CHESS replacement project’s progress on 10 February 2022 and it did not breach the law.

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    AML / KYC

    US Court Jails Bitfinex Hacker for Laundering Stolen Bitcoin

    By Nithya Subramanian | 19/11/2024

    Ilya Lichtenstein was sentenced to five years in prison and his wife to 18 months for their roles in the 2016 Bitfinex hack.

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    Enforcement

    ASIC Sues NAB for Slow Response to Financial Hardship Claims

    By Sanday Chongo Kabange | 19/11/2024

    ASIC says NAB and a subsidiary failed to respond to financial hardship applications within 21 days as required by law.

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    Enforcement

    Singapore Police Investigate 288 Suspects in Scams Totaling S$6.54m

    By Nithya Subramanian | 18/11/2024

    The Singapore Police Force conducted a two-week operation uncovering 1,208 scam cases, including job, e-commerce, and investment scams.

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    Sanctions

    OFAC Penalises MetLife Subsidiary for Violating Iran Sanctions

    By Editors | 18/11/2024

    The insurer issued group medical and life insurance policies, collected premiums, and paid claims to schools and entities in the UAE and owned by Iran’s government.

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    Enforcement

    FCA to Reshape ‘Name and Shame’ Policy After Backlash

    By Nithya Subramanian | 17/11/2024

    Revised proposals will include a more stringent public interest test and a longer notice period for firms.

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    AML / KYC

    Australia Consults on Enhanced Beneficial Ownership Reforms

    By Sanday Chongo Kabange | 15/11/2024

    The reforms aim to increase the disclosure of ownership information for listed companies and broaden the ASIC’s regulatory enforcement powers.

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