Enforcement

Enforcement

HK Financial Consultant Pleads Guilty in ICAC Fraud Case

By Sanday Chongo Kabange | 09/07/2024

The consultant pleaded guilty in an investment fraud case that also involves three former StanChart relationship managers.

Enforcement

China to Intensify Crackdown on Capital Markets Fraud

By Manesh Samtani | 09/07/2024

New guideline includes measures to crack down on financial fraud such as false information disclosure and embezzlement of IPO proceeds.

Enforcement

Singapore CEO Fined for False Announcement, Insider Trading

By Editors | 09/07/2024

The former CEO was fined SGD 310,000, “voluntarily disgorged” about SGD 630,000, and is disqualified from being a director for 5 years.

AML / KYC

Five Chinese Money Launderers Arrested in Spain

By Manesh Samtani | 09/07/2024

The head of an alleged Chinese criminal network was among those arrested during the Europol-supported operation.

Enforcement

MPFA Fines HSBC for Non-compliant Referral Programme

By Sanday Chongo Kabange | 09/07/2024

HSBC recruited and offered incentives to unregistered persons to refer corporate clients to the bank for MPF business.

AML / KYC

HKMA Fines DBS for Historical AML Deficiencies

By Sanday Chongo Kabange | 08/07/2024

HKMA investigation found deficiencies in the bank’s systems and controls for compliance with the AMLO.

AML / KYC

Nordea Charged for Laundering $3.8b for Russian Clients

By Editors | 08/07/2024

Danish authorities said Nordea did not adequately investigate transactions by Russian clients and ignored other warnings.

Enforcement

China Probes Former Top Official of Banking Association

By Editors | 05/07/2024

New probes against two former officials of Agricultural Bank of China. Former CITIC official referred for criminal prosecution.

Enforcement

Hong Kong Hedge Fund Manager To Disgorge False Trading Profit

By Sanday Chongo Kabange | 05/07/2024

The MMT has ordered a hedge fund manager to disgorge HK$ 5.6 million illicit profit and disqualified him for four years.