ENFORCEMENT

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    Enforcement

    Ex-FBI Agent Jailed for Helping Sanctioned Russian Oligarch

    By Editors | 18/12/2023

    Former FBI agent Charles McGonigal conspired to violate US sanctions and commit money laundering to help sanctioned Russian oligarch Oleg Deripaska.

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    AML / KYC

    HK Amends National Security Law to Facilitate Asset Freezes

    By Editors | 15/12/2023

    The national security law has been amended to allow assets to be frozen “until the conclusion of the proceedings” such as criminal prosecutions.

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    AML / KYC

    US Congress Passes Foreign Extortion Prevention Act

    By Editors | 15/12/2023

    The Act prohibits foreign government officials from soliciting or receiving bribes from any person or company under US jurisdiction.

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    Enforcement

    Former Bank of China Branch Head Jailed for Life for Embezzlement

    By Editors | 15/12/2023

    Xu Guojun and accomplices embezzled and misappropriated over $323mn in China’s banking sector’s biggest-ever corruption case.

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    Enforcement

    SBI Securities Accused of Manipulating Stock Prices – Reports

    By Editors | 15/12/2023

    SBI Securities allegedly asked investors to buy shares in stocks that it underwrote on the first day of trading to prop up their stock prices.

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    AML / KYC

    RBNZ Issues Formal AML/CFT Warning to Citibank

    By Sanday Chongo Kabange | 14/12/2023

    Citibank NZ failed to pass on the identities of the originators of 64,000 wire transfers between 2017 and 2022.

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    Enforcement

    Crypto Exchange Pays OFAC USD 1.2 Million to Settle Crimea Violations

    By Editors | 14/12/2023

    US-based CoinList Markets processed 989 transactions on behalf of users in the Crimea region in violation of OFAC sanctions regulations.

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    Enforcement

    SFC Bans Ex Employee of OCBC Wing Hang Bank

    By Sanday Chongo Kabange | 13/12/2023

    The employee was earlier convicted for offering a colleague a bribe to refer mortgage refinancing clients to an external party.

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    Enforcement

    China NFRA to Apply More Discretion in Penalty Decisions

    By Editors | 13/12/2023

    The NFRA says it will strictly abide by the principles of legality, proportionality, and due process when handing out penalties to banks and insurers.

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    AML / KYC

    AUSTRAC Announces Regulatory Priorities for 2024

    By Editors | 13/12/2023

    AUSTRAC will scrutinise the banking, gambling and remittance sectors, as well as crypto firms, payment platforms and non-bank lenders.

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