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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.
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.
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.
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.
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.
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.
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.
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.
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.
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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