Enforcement

    Crypto / Digital Assets

    US SEC Charges BitConnect for $2bn Cryptocurrency Fraud

    By Editors | 06/09/2021

    BitConnect promised investors lucrative returns through the use of a proprietary trading bot, but investor funds were siphoned off by the company’s founder and others.

    Enforcement

    MAS Orders Halt to Singapore Services From Binance.com

    By Editors | 05/09/2021

    Binance Asia Services, which operates Binance.sg, is a “distinct entity” and may still operate under an exemption while its licence application is under review.

    Enforcement

    Singapore: 20 More Charges Laid in Nickel Trading Fraud Case

    By Editors | 03/09/2021

    Ng Yu Zhi has been charged with 20 new counts of cheating, bringing the total number of charges he faces to 51.

    Enforcement

    MAS Bans Ex-UOBKH Employees for Making False Statements

    By Ranamita Chakraborty | 03/09/2021

    The individuals provided false information to MAS when it was checking whether background checks were included in due diligence for the IPO of a Catalist listed company.

    Enforcement

    Mizuho Unable to Identify Cause of System Failure

    By Editors | 02/09/2021

    In a report to the FSA, Mizuho says it will revamp its system restoration procedures, review its customer response measures, and reassess its core banking system.

    Enforcement

    Singapore Court Charges UK Man in Wirecard Probe

    By Ranamita Chakraborty | 02/09/2021

    The man faces charges for abetting the falsification of a document that represented Wirecard’s missing money was being held in escrow.

    Enforcement

    CBIRC Probes Ping An Over Property Investments – Report

    By Manesh Samtani | 01/09/2021

    The probe is aimed at uncovering and containing risk connected to Ping An Insurance Group’s property investment portfolio.

    AML / KYC

    SFC Suspends Former Emperor Representative for 2 Years

    By Manesh Samtani | 01/09/2021

    The broker transferred client money through bank accounts he owned to help two clients transfer money to/from the Mainland, among other violations.

    AML / KYC

    OFAC Fines Bank of China UK for Sudan Sanctions Breach

    By Editors | 01/09/2021

    BOC UK’s internal customer database did not include reference to Sudan in the name or address fields of two customers despite knowledge of their location.

    AML / KYC

    New Zealand Court Penalises TBS Bank for AML Breaches

    By Editors | 31/08/2021

    The court action against TSB Bank was the first civil proceedings brought by the RBNZ under the AML/CFT Act.

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