Enforcement

Crypto / Digital Assets

Korean Police Pilots Crypto Seizures to Settle Unpaid Fines

By Editors | 24/08/2022

The programme was introduced as a way to collect unpaid fines in a contactless way. The amount seized reportedly exceeded all collections made in the last three years.

Enforcement

SG Police Make Series of Arrests Targeting Scam Syndicates

By Editors | 24/08/2022

4 were arrested over phishing scams targeting bank customers, and another 13 as part of a joint operation with Malaysian police.

AML / KYC

Malaysia: Federal Court Upholds Najib Razak Conviction

By Editors | 24/08/2022

Najib was convicted in 2020 on 1MDB-related charges. The federal court upheld the conviction, requiring him to serve a 12 year jail sentence.

Enforcement

US Court Allows Use of Crypto Firm’s Records to Identify Tax Cheats

By Editors | 23/08/2022

Crypto prime dealer SFOX will have to reveal the identities of customers who are US taxpayers and information on their crypto transactions.

Enforcement

BSP to Increase Penalties for Misreporting of FX Transactions

By Editors | 23/08/2022

The new penalties regime is intended to help protect the value of the Philippine peso, maintain price stability, and deter future violations.

Enforcement

Australia to Increase Max Penalties for Anti-Competitive Conduct

By Sanday Chongo Kabange | 23/08/2022

The maximum penalties for breaches of competition and consumer laws companies are being raised five-fold for both individuals and corporates.

Crypto / Digital Assets

US SEC Files Suit Against Crypto Entities Over ICO Sale

By Mark Johnston | 22/08/2022

Blockchain firm Dragonchain raised about $16.5mn without registering its token sales as securities offerings.

Enforcement

Shanghai Court Jails Tycoon Xiao Jianhua, Fines Conglomerate

By Editors | 22/08/2022

Xiao Jianhua was handed a 13-year jail term and CNY 6.5 million fine. His company, Tomorrow Holding, was fined CNY 55 billion.

Enforcement

SFC Probes AMTD Over Past Underwriting Deals – Reports

By Editors | 22/08/2022

The full scope of the probe into AMTD Group and its current status are “unclear”, but it is said to be related to previous underwriting deals.