Enforcement

Fintech / Regtech

Kakao Risks Losing Control of Kakao Bank Over Regulatory Breach

By Sanday Chongo Kabange | 04/09/2025

A potential criminal penalty could force the tech giant to sell down its majority stake in its digital bank due to shareholder eligibility rules.

Enforcement

BSP Imposes "Maximum Penalties" on Supervisors in Ethics Case

By Nithya Subramanian | 03/09/2025

The BSP formally dismissed two supervisors for their alleged involvement in falsifying attendance records and disqualified them from public service.

AML / KYC

Luxembourg Fines Alipay Europe for AML Breaches

By Sanday Chongo Kabange | 03/09/2025

The CSSF identified significant failures in transaction monitoring, customer due diligence, and outsourcing oversight at the electronic money institution.

AML / KYC

SFC Bans Former UBS Director for Life Over Money Laundering Conviction

By Sanday Chongo Kabange | 03/09/2025

The SFC has permanently barred Suen Kin-wing following convictions for laundering over HKD 134 million and breaching court injunctions.

AML / KYC

AUSTRAC Fines Revolut Payments for Late IFTI Reporting

By Sanday Chongo Kabange | 03/09/2025

AUSTRAC said Revolut Payments self-disclosed the reporting failures and subsequently implemented remedial controls.

Enforcement

ASIC Expands Case Against Adviser of Collapsed Super Funds

By Editors | 03/09/2025

ASIC alleges an unconscionable advice model led to over AUD 500 million in investments into two now-collapsed funds.

Enforcement

Thailand SEC Moves to Tighten Oversight of Audit Firms

By Nithya Subramanian | 02/09/2025

The SEC is seeking powers to directly supervise and penalise audit firms when their employees are involved in misconduct.

Securities / Derivatives

Bangladesh Regulators Take Action Against Underfunded Brokerages

By Nithya Subramanian | 02/09/2025

The BSEC has ordered DSE to act against two brokerage houses over serious net worth shortfalls, while BB moves to liquidate nine debt-ridden NBFIs.

Fintech / Regtech

Singapore Director Pleads Guilty to Multi-Million Dollar AI Trading Scam

By Nithya Subramanian | 02/09/2025

Ong Kai Min has pleaded guilty to cheating investors in a bogus AI trading scheme that raised nearly SGD 4 million, with funds diverted for personal and business use instead of trading as promised.