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ENFORCEMENT
AML / KYC
Korea Offering Rewards for Self-Reporting of Fraud Crimes
By Editors | 13/09/2024
The National Police Agency said those who self-report fraud crimes will be considered for more lenient sentencing as well as monetary rewards.
Enforcement
US Firm Deere & Co Fined $10m in Thailand Bribery Case
By Mark Johnston | 13/09/2024
The company’s subsidiary paid bribes to Thai officials to win government contracts and employees at another company to win sales.
AML / KYC
OFAC Sanctions Cambodian Tycoon for Scam Centre Operations
By Manesh Samtani | 13/09/2024
Billionaire Ly Yong Phat was sanctioned for his role in human trafficking and human rights abuses tied to scam centre operations he controls in Cambodia.
Enforcement
China Requiring Investment Bankers to Hand In Passports – Report
By Editors | 13/09/2024
Three high-profile investment bankers have been detained since August, amid intensified scrutiny of IPOs and other capital-raising activity.
AML / KYC
Swedish Court Sentences Former Swedbank CEO to Jail Term
By Nithya Subramanian | 13/09/2024
Birgitte Bonnesen was sentenced to 15 months in prison for providing misleading information about Swedbank’s money laundering issues in Estonia.
Crypto / Digital Assets
Singapore Court Jails Crypto Firm Director for Ponzi Scheme
By Nithya Subramanian | 12/09/2024
Chen Wei, Director of A&A Blockchain Technology Innovation, has been sentenced to four years in prison for deceiving over 700 investors.
Enforcement
Singapore to Issue First Charges Under New Anti-Scam Laws
By Nithya Subramanian | 12/09/2024
Around 40 individuals will be charged with new offences under the CDSA and CMA for selling their bank accounts and Singpass credentials.
Crypto / Digital Assets
UK FCA Charges Man for Operating Illegal Crypto ATM Network
By Nithya Subramanian | 12/09/2024
The London resident is the first individual to be criminally prosecuted for unregistered crypto activity in the UK.
Enforcement
ASIC Report Highlights Hardship Misconduct as Key Focus
By Thisanka Siripala | 12/09/2024
ASIC said it is actively conducting investigations into suspected breaches by lenders of their financial hardship obligations.
Enforcement
China NFRA Revises Rules on Handling Criminal Cases Involving FIs
By Editors | 11/09/2024
The revised rules specify time limits for reporting and requirements for FIs to optimise case management and pursue individual accountability.
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