Enforcement

AML / KYC

Police Arrest 1,000 in Interpol Operation Targeting Online Fraud

By Ranamita Chakraborty | 01/12/2021

The operation was used to test a new worldwide stop-payment mechanism which Interpol plans to fully embed in police communication channels next year.

Enforcement

SAFE Fines Tenpay for Breaching Foreign Exchange Rules

By Editors | 30/11/2021

Tenpay failed to submit relevant materials and handle foreign exchange sales services in accordance with regulations.

Enforcement

ASIC Files Multiple Court Proceedings Against Westpac

By Editors | 30/11/2021

Westpac has already agreed to admit to the allegations, remediate A$80mn to customers, and pay A$113mn in penalties, subject to court approval.

Enforcement

APRA Imposes Capital Surcharge on Heritage Bank

By Editors | 29/11/2021

Heritage Bank will also have to complete a remediation programme to address governance and risk management concerns.

Enforcement

Hong Kong SFC Investigates Ramp-and-Dump Scam

By Editors | 29/11/2021

Restriction notices have been sent to two brokerage firms prohibiting them from dealing in assets worth HK$312mn held across 17 trading accounts.

Enforcement

Japan FSA Orders Mizuho to Undergo Structural Reforms

By Editors | 29/11/2021

Mizuho is directed to formulate plans to improve its governance and prevent more system failures from occurring. Three top executives will resign.

Enforcement

HK ICAC Charges Four for Concealing Backdoor Listing

By Editors | 28/11/2021

A retired lawmaker and his son concealed an agreement with a third party who agreed to pay them about HK$210mn for control of a listed stock.

Enforcement

Hong Kong FRC to Increase Public Disclosures on Investigations

By Editors | 28/11/2021

The Financial Reporting Council will increasingly disclose its investigations when cases involve high public interest.

Enforcement

ASIC Sues ANZ Over Home Loan Introducer Programme

By Editors | 27/11/2021

ASIC says ANZ breached credit laws by accepting customer information and documents from unlicensed individuals, some of which was fraudulent.