Enforcement

Enforcement

China Targets Regulatory, Banking Officials in New Corruption Probes

By Mark Johnston | 26/06/2024

Among the new targets are former officials from the CSRC, NFRA, Agricultural Bank of China, ICBC and Citi Group.

Enforcement

$137m Embezzled from Korean FIs from 2018-2023: FSS

By Nithya Subramanian | 26/06/2024

Less than 10% of the embezzled funds have been recovered to date. Meanwhile, the FSS has expanded its inspection team handling Woori’s latest embezzlement case.

Enforcement

Japan FSA Orders MUFG Units to Correct Control Deficiencies

By Mark Johnston | 26/06/2024

The MUFG units breached Japan’s “firewall” regulations by sharing non-public client information without authorisation, the FSA said.

Enforcement

UAE Extradites Former CEO to Thailand to Face Fraud Charges

By Editors | 25/06/2024

The former CEO of Stark Corporation was extradited to Thailand after being on the run for around eight months.

Enforcement

BNM Calls for Prompt Refunds for Depositors Affected by Fraud

By Nithya Subramanian | 24/06/2024

The central bank said recent reports of large-scale unauthorised cash withdrawals arose from collusion between bank employees and external parties.

Sanctions

FATF Must Blacklist Russia Over DPRK Partnership, Ukraine Says

By Manesh Samtani | 24/06/2024

RUSI’s Tom Keatinge says the FATF could damage its legitimacy if it doesn’t have a response to the strengthening of ties between Russia and North Korea.

Enforcement

Korea: FSS Governor Calls For Culture Change at Banks

By Mark Johnston | 23/06/2024

The call for action from FSS Governor Lee Bok-hyun comes in response to multiple mis-selling and embezzlement cases in the banking sector.

AML / KYC

Myanmar Junta Targets Privately Owned Yoma Bank and CEO

By Editors | 22/06/2024

Yoma Bank and its CEO are being investigated by the military junta for transferring assets to Thailand and offering financing for overseas real estate purchases.

Enforcement

Hong Kong SFC Suspends Ex-PICC Investment Manager

By Sanday Chongo Kabange | 21/06/2024

The former investment manager failed to properly manage the risks of the fund, including liquidity and concentration risks.