Enforcement

AML / KYC

Malaysia Freezes Bank Accounts, Makes Arrests in Bribery Probe

By Editors | 30/08/2023

The probe involves more than MYR 6 million in bribes allegedly paid to prominent figures and political leaders by a gambling company.

Enforcement

SFC, ICAC Acts Against Suspected Market Manipulation Syndicate

By Sanday Chongo Kabange | 30/08/2023

One person was arrested on bribery charges. Brokerage accounts linked to the manipulation scheme were frozen.

Enforcement

CFTC Fines Goldman Sachs for Missing Audio Recordings

By Editors | 30/08/2023

Goldman’s vendor service for recording mobile calls failed during the pandemic. Commissioner Caroline Pham said the penalty is unfair.

Enforcement

FSS Korea Confirms Misconduct Case at Lotte Card Co

By Editors | 30/08/2023

Two Lotte Card employees conspired to help a subcontractor win a deal and then the three shared in the proceeds.

Enforcement

ASIC’s New 4-Year Plan Highlights Heavy Enforcement Focus

By Editors | 29/08/2023

ASIC will target scams, digitally-enabled misconduct, predatory lending, and greenwashing, while also “closely monitoring” the use of AI.

AML / KYC

Singapore AML Probe Expands to Precious Metals, Property Agents

By Manesh Samtani | 29/08/2023

MinLaw urged precious metals dealers to review their transactions and business relationships. The Council for Estate Agencies is investigating property agents.

Enforcement

US SEC Settles First NFT-related Enforcement Action

By Manesh Samtani | 29/08/2023

The SEC says NFTs offered and sold to investors by Impact Theory were investment contracts and therefore unregistered securities.

Enforcement

Wells Fargo Fined $35m for Overcharging Advisory Clients

By Mark Johnston | 28/08/2023

Wells Fargo and its predecessor firms overcharged clients because the agreed fees were not entered into billing systems.

Enforcement

Fed Terminates 2017 Cease-and-desist Order Against HSBC

By Mark Johnston | 27/08/2023

HSBC no longer has to provide progress reports on its efforts to improve internal controls or manage risks in connection with its FX trading activities.