Enforcement

Enforcement

Aviva Facing Charges in India for Tax Evasion, Fake Invoices

By Ajoy K Das | 02/09/2024

Aviva allegedly used fake invoices to circumvent regulatory limits on agent compensation, in the process evading taxes worth $5.2mn.

AML / KYC

HKMA Fines WeChat Pay for AML Control Deficiencies

By Sanday Chongo Kabange | 02/09/2024

WeChat Pay had control deficiencies in its process for undertaking CDD reviews and applying EDD measures.

Enforcement

Malaysia’s EPF Seeks Travel Restrictions on 635 Company Directors

By Nithya Subramanian | 02/09/2024

The directors will be prohibited from leaving Malaysia due to failure to pay the required contributions to their employees’ EPF accounts.

Enforcement

China Extradites Crime Syndicate Ringleaders to South Korea

By Editors | 01/09/2024

The syndicate has been operating from China since 2017, using government impersonation scams to defraud almost 2,000 Koreans of $113mn.

Enforcement

UK Jails Members of Chinese Money Laundering Group

By Editors | 31/08/2024

A 12-year jail sentence was handed to the head of the group, which sold British pounds to UK university students to circumvent China’s foreign currency controls.

Enforcement

CFTC Penalises Nasdaq Futures Over False Disclosures

By Editors | 30/08/2024

Nasdaq Futures, which operated an energy commodity futures market from 2015-2018, did not fully disclose details of an incentive programme.

Enforcement

Singapore Designates Wildlife Trade as Serious Criminal Offences

By Nithya Subramanian | 30/08/2024

Wildlife trading will now be punishable in Singapore under the Organised Crime Act with up to 20 years imprisonment.

Enforcement

CFTC Fines Swiss Energy Trader $48m for Market Manipulation

By Nithya Subramanian | 30/08/2024

TOTSA TotalEnergies Trading sold physical EBOB at below-market prices to benefit its large short position in the futures market.

Enforcement

Australian Court Sentences Financial Adviser to 12 Years Jail

By Editors | 30/08/2024

Ben Jayaweera dishonestly obtained money from clients for investments and then transferred the funds to his own accounts.