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Enforcement
China Sentences Ex-ICBC Executive Zhang to Death with Reprieve
By Mark Johnston | 24/02/2025
Zhang Hongli was found to have accepted CNY 177 million in bribes in exchange for facilitating loans and securing employment positions for others.
Enforcement
Federal Court Orders AustralianSuper to Pay A$27m Penalty
By Thisanka Siripala | 24/02/2025
AustralianSuper failed to merge duplicate accounts, resulting in members incurring redundant administration fees, insurance premiums, and lost investment earnings.
Enforcement
FSS Korea’s 2025 Inspection Strategy to Target Internal Controls
By Thisanka Siripala | 23/02/2025
The FSS will conduct 9% more inspections in 2025 compared to 2024, focusing on areas such as internal controls, risk prevention, misconduct, and high-risk product sales.
Enforcement
FTX Begins Creditor Repayments After Three-Year Wait
By Nithya Subramanian | 23/02/2025
The FTX estate has started distributing funds to creditors, with initial payouts prioritising small claims under $50,000.
Enforcement
DBS Wealth Manager Pleads Guilty on Cheating Charges
By Nithya Subramanian | 21/02/2025
The former bank employee lured clients into making investments and then had them transfer funds into his personal accounts.
Enforcement
FSC Korea Fines Nine Securities Firms for Capital Market Act Violations
By Thisanka Siripala | 21/02/2025
Nine firms were fined a combined $240mn for misconduct involving their handling of bond-type wrap products and trusts for clients.
Enforcement
India Enforcement Directorate Seizes $190m Related to BitConnect Scam
By Nithya Subramanian | 21/02/2025
The ED the f’s investigation revealed that the founder of BitConnect and his associates ran an unregistered, fraudulent investment scheme.
AML / KYC
Digital Currency Exchanges on Notice Amid AUSTRAC Compliance Blitz
By Nathan Lynch | 20/02/2025
Crackdown from AUSTRAC could be just the tip of the iceberg for crypto exchanges, as some could also face follow-up enforcement action.
Enforcement
Indian Tax Authorities Hit Aviva with $7.5m Fine
By Nithya Subramanian | 19/02/2025
Tax authorities said by using fraudulent invoices and cash payments, Aviva wrongly claimed tax credits and evaded taxes.
Enforcement
Mizuho Bank Discloses Safe Deposit Box Theft from 2019
By Thisanka Siripala | 19/02/2025
Mizuho Bank said it tightened its system of storing spare keys after an employee stole from customer safe deposit boxes in 2019.
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