Enforcement

Enforcement

US Suspects Sanctions Circumvention by Chinese AI Firm DeepSeek

By Manesh Samtani | 31/01/2025

US authorities investigating whether Deepseek bypassed US export controls and whether Singapore served as an intermediary for restricted Nvidia chip shipments

Enforcement

Korea Investigates Financial Planners for Alleged Ponzi Fraud

By Editors | 31/01/2025

PS Financial Services and Mirae Asset Financial Services are undergoing on-site inspection as part of the investigation

Sanctions

Five Indicted in DPRK Remote IT Worker Fraud Case

By Editors | 30/01/2025

The indictment targets five individuals including two US nationals who operated “laptop farms” at their residences

Enforcement

New Zealand Starts Publishing More Data on Banking Complaints

By Thisanka Siripala | 28/01/2025

Kiwibank had the highest number of total cases for the October to December quarter when adjusted for market cap

Enforcement

HK PCPD Orders Oxfam to Remediate Privacy Law Breaches

By Sanday Chongo Kabange | 28/01/2025

The PCPD says Oxfam didn’t have adequate measures in place to guard against the ransomware attack it experienced last year.

Crypto / Digital Assets

US DOJ Imposes $300m Penalty on Crypto Firm KuCoin

By Nithya Subramanian | 28/01/2025

KuCoin also agreed to exit the US market for at least the next two years, and to ensure two co-founders are not involved in management or operations.

Enforcement

Hang Seng Bank Fined for Mis-selling Investment Products

By Sanday Chongo Kabange | 28/01/2025

SFC Executive Director of Enforcement Christopher Wilson described Hang Seng Bank’s misconduct as “serious and systemic”.

AML / KYC

Malaysia Investigating Banks Over Loan Fraud Scheme

By Nithya Subramanian | 28/01/2025

MACC has frozen funds linked to 98 bank accounts, arrested 21 individuals and seized luxury assets. 5-6 banks are being investigated.

Enforcement

Hong Kong: Former OCBC Banker Pleads Guilty to Accepting Bribes  

By Sanday Chongo Kabange | 28/01/2025

The former bank employee accepted a bribe to refer mortgage clients to an agent so he could earn referral fees from a different lender