Enforcement

AML / KYC

Five Korean Crypto Exchanges Face AML Penalties

By Editors | 12/09/2022

Most of the funds involved in Woori and Shinhan’s suspicious wire transfers came from five crypto exchanges and were not reported.

Enforcement

Taiwan FSC Fines Taishin Bank Over Debt Collection Mistakes

By Editors | 12/09/2022

The bank has been incorrectly sending debt collection notices to non-debtors for ten years due to poor internal controls, the FSC said.

Enforcement

Australia: ABN AMRO Penalised Over Block Trading Rule Breach

By Editors | 08/09/2022

ABN AMRO Clearing Sydney registered ASX SPI 200 Futures block trades that included split allocations below the Minimum Value Threshold.

AML / KYC

Singapore Police Opens New Anti-Scam Command Office

By Editors | 07/09/2022

The opening of the ASCom office was officiated by Minister for Communications & Information Josephine Teo.

AML / KYC

Japan Regulator Orders Revolut to Improve AML Controls

By Editors | 06/09/2022

Revolut is required to submit a business improvement plan by 3 October and file quarterly progress reports until implementation is complete.

Fintech / Regtech

India Raids Payment Firms in Digital Lending App Probe

By Editors | 06/09/2022

The Enforcement Directorate said digital loan app providers involved in extortion and harassment of members of the public are controlled and operated by Chinese persons.

Enforcement

Singapore Jails Five Former Remisiers for False Trading

By Editors | 06/09/2022

The five were former remisiers for Phillip Securities, OCBC Securities, DBS Vickers Securities, and Maybank Kim Eng Securities.

AML / KYC

China: Liaoning Officials Probed Following Two Bank Failures

By Editors | 06/09/2022

Among them, two CBIRC officials are accused of failing in their supervisory duties and for accepting bribes in exchange for favours.

Enforcement

Singapore: StanChart RM Charged for Unauthorised Access to Customer Data

By Editors | 06/09/2022

The relationship manager used the computers of other bank staff to access the personal information and transactional history of another StanChart employee.