ENFORCEMENT

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    AML / KYC

    Japan FSA Orders AEON Bank to Improve AML/CFT Systems

    By Manesh Samtani | 27/12/2024

    The FSA said AEON Bank neglected at least 14,639 transactions detected by its surveillance system and takes too long to report suspicious transactions

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    Enforcement

    AFRC Fines BDO and Two Partners for Audit Failures

    By Editors | 27/12/2024

    The AFRC said BDO’s history of non-compliance suggests a “tendency of repeated failures to comply with auditing and professional standards”.

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    Enforcement

    Australia Court Rules Against CFD Firms in Landmark Ruling

    By Editors | 26/12/2024

    The Court for the first time found that a licensee breached the law by offering services to customers outside of the country.

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    AML / KYC

    UN General Assembly Adopts New Cybercrime Convention

    By Manesh Samtani | 26/12/2024

    The Convention will help to address online child sexual abuse, sophisticated online scams and money laundering

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    Capital / Liquidity

    Findings Released from Probe into Credit Suisse Rescue Deal

    By Manesh Samtani | 25/12/2024

    The parliamentary probe found shortcomings but “no misconduct” by Swiss authorities and said they ultimately “prevented a global financial crisis”.

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    Enforcement

    US SEC Fines Deutsche Bank Securities for Late SAR Filings

    By Editors | 24/12/2024

    The SEC said the firm took months or years to conduct or complete investigations prompted by law enforcement or regulatory requests.

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    Enforcement

    US Regulator Files Lawsuit Targeting Zelle and Three Major Banks

    By Editors | 24/12/2024

    The CFPB says JPMorgan, BofA and Wells Fargo failed to implement anti-fraud safeguards on Zelle, resulting in $870mn in losses to customers over 7 years.

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    Enforcement

    FMA Says Westpac NZ Admitted to Overcharging 24,000 Customers

    By Editors | 24/12/2024

    The bank self-reported the issue, fully cooperated with the FMA’s investigation, and provided remediation to impacted customers.

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    Enforcement

    Bank Indonesia Under Investigation by Anti Corruption Agency

    By Editors | 23/12/2024

    KPK searched several rooms at Bank Indonesia including the governor’s office. A search operation was also conducted at OJK.

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    AML / KYC

    FMA Launches Legal Action Against InvestNow for Breaching AML Rules

    By Editors | 22/12/2024

    The FMA said it considers failures by retail investment platform InvestNow to be “significant and, in some respects, systemic.”

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