Enforcement

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    Enforcement

    Indian Tax Authorities Hit Aviva with $7.5m Fine

    By Nithya Subramanian | 19/02/2025

    Tax authorities said by using fraudulent invoices and cash payments, Aviva wrongly claimed tax credits and evaded taxes.

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    Enforcement

    Mizuho Bank Discloses Safe Deposit Box Theft from 2019

    By Thisanka Siripala | 19/02/2025

    Mizuho Bank said it tightened its system of storing spare keys after an employee stole from customer safe deposit boxes in 2019.

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    Enforcement

    China Working with Myanmar to Address Cross-Border Crimes

    By Nithya Subramanian | 19/02/2025

    Senior Chinese officials met with officials of the Myanmar government to discuss measures to address cross-border scams and fraud.

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    Enforcement

    Former Shanghai Exchange Official Facing Prosecution for ‘Corrupt Practices’

    By Mark Johnston | 19/02/2025

    Former deputy general manager of SSE was found to have frequently accepted expensive gifts and large sums of money.

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    Enforcement

    Vietnam to Start Compensating Saigon Commercial Bank Bondholders

    By Nithya Subramanian | 19/02/2025

    Ho Chi Minh City authorities have seized over $315mn intended for compensating victims affected by Truong My Lan’s embezzlement scandal.

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    Fintech / Regtech

    Korea Suspends DeepSeek AI Over Data Privacy Concerns

    By Thisanka Siripala | 19/02/2025

    DeepSeek has appointed legal representatives to address these regulatory concerns regarding the way it handles personal data.

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    AML / KYC

    Risk Assessments a Core Part of Australia’s New AML Regime

    By Nathan Lynch | 18/02/2025

    The reforms passed in November send a clear message that risk assessments and AML programmes need to respond to changes in the financial crime risk landscape.

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    AML / KYC

    AUSTRAC Warns Crypto, Remittance Firms of Possible Regulatory Action

    By Sanday Chongo Kabange | 18/02/2025

    AUSTRAC has issued alerts, a precursor to potential regulatory action, to over 50 crypto exchanges and remittance service providers.

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    Enforcement

    RBI Lifts Business Restrictions on Kotak Mahindra Bank

    By Nithya Subramanian | 18/02/2025

    The RBI said it is satisfied with the remedial measures Kotak Mahindra Bank has taken to address IT risk management deficiencies.

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    Enforcement

    SFC Reviewing Margin Financing Practices of Securities Firms

    By Manesh Samtani | 18/02/2025

    The SFC is conducting a thematic review of eight securities firms that provided unusually high levels of margin financing for new IPO subscriptions.

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