Enforcement

AML / KYC

China, Thailand, Myanmar, Laos Launch Joint Police Operation

By Editors | 22/08/2023

Police from the four countries have launched a special joint operation to crack down on illegal gambling, fraud, human trafficking and other crimes.

Enforcement

SFC Fines Changjiang Corporate Finance for Sponsor Failures

By Editors | 21/08/2023

The company is prohibited from acting as a sponsor for listing applications in Hong Kong for one year, potentially longer if deficiencies are not addressed.

Enforcement

Hong Kong Court Jails Three Former DBS Bankers

By Editors | 20/08/2023

The DBS employees were convicted for divulging confidential information of over 680 customers to others for touting personal loans.

Crypto / Digital Assets

Australia Sentences Crypto Lender for Falsely Claiming it Had Credit Licence

By Sanday Chongo Kabange | 20/08/2023

Helio Lending entered into a A$15,000 good behaviour recognisance bond for a period of 12 months.

AML / KYC

Bangladesh’s Sonali Bank Freezes Accounts of Myanmar State Banks

By Editors | 18/08/2023

The move was made in response to direct requests from US authorities, who sanctioned two of Myanmar’s state-owned banks in June.

Enforcement

RBA Drops Plan to Ban Default Routing on Debit Cards

By Ranamita Chakraborty | 18/08/2023

A recent public consultation raised concerns that the ban could lead to unsuccessful transactions and necessitate the expensive reissuing of all debit cards.

AML / KYC

Taiwan Sentences Corrupt Official to 8 Years in Prison

By Editors | 18/08/2023

The official committed property fraud, document forgery, money laundering, and accepted bribes in the form of cash, banquets and sexual entertainment.

Enforcement

ATO Has Stopped A$2.7b in Fraudulent GST Claims

By Editors | 17/08/2023

Fraudulent GST claims have led to more than 100 arrests, 10 convictions, and compliance actions taken against as many as 56,000 people.

AML / KYC

Ex-Sembcorp Marine Exec Charged in Singapore for Corruption Offences

By Editors | 17/08/2023

The former executive obtained or attempted to obtain bribes totalling more than SGD 202,000 over six years, the CPIB said.