Enforcement

AML / KYC

Australia Considers Expansion of Modern Slavery Law

By Manesh Samtani | 29/05/2023

The expansion would include penalties for failing to report, submitting a report with false information, or failing to implement a due diligence system.

Enforcement

NYDFS Fines Lender $4.25m for Breaching Cybersecurity Rules

By Mark Johnston | 25/05/2023

OneMain Financial Group failed to properly manage access privileges and conduct due diligence on third-party vendors, NYDFS said.

Enforcement

HK SFC Disqualifies Former Luxey International Directors

By Ranamita Chakraborty | 25/05/2023

A Hong Kong court found two former Luxey International directors responsible for fraudulently inflating the price of a corporate acquisition and pocketing the gains.

Enforcement

PwC Australia Referred for Possible Criminal Investigation

By Sanday Chongo Kabange | 25/05/2023

Treasury referred PwC to the AFP to consider a criminal probe related to a leak of confidential tax policy information.

Enforcement

Global Banks Under Probe for Breaking UK Competition Law

By Editors | 25/05/2023

The CMA “provisionally” found that five global banks broke competition law in the aftermath of the global financial crisis.

Enforcement

Shanghai Police Uncover Money Laundering via Livestreamers

By Mark Johnston | 25/05/2023

Shanghai police have uncovered a scheme involving fraudsters who tipped livestreamers to conceal their illicit funds.

Enforcement

Malaysia SC Orders Crypto Firm Huobi to Cease Local Operations

By Ranamita Chakraborty | 24/05/2023

Huobi is directed to stop advertising to Malaysian investors and to remove its app from local app stores.

Enforcement

China’s Tech Sector to See Fewer, but Not Zero, Regulatory Actions

By Jill Wong | 24/05/2023

While the worst of the regulatory action against the tech sector is over, S&P Global Ratings expects more regulatory actions in the foreseeable future.

Enforcement

Adani Shares Recover as SEBI Struggles to Trace Overseas Investors

By Mark Johnston | 24/05/2023

A court-appointed panel says SEBI has been unable to trace the ultimate owners of 13 overseas entities that invested in Adani Group.