Enforcement

Enforcement

FINMA Launches Enforcement Proceedings Against Julius Baer

By Nithya Subramanian | 06/02/2025

The action is related to control failures that forced the bank to write down significant exposures to a collapsed real estate conglomerate.

AML / KYC

Turkish Money Launderer Arrested in Montenegro After Singapore Deportation

By Nithya Subramanian | 06/02/2025

Vang Shuiming was arrested in Montenegro for orchestrating illegal online betting platforms targeting Chinese citizens

Enforcement

Casino Operator SkyCity Settles Australian Tax Probe for A$38m

By Thisanka Siripala | 06/02/2025

The dispute stemmed from uncertainty regarding how customer loyalty points used in gaming machines should be taxed.

Enforcement

Korea FSS Finds $268m of Improper Loans at Three Banks

By Mark Johnston | 05/02/2025

Woori had improper loans totalling KRW 233.4 billion. Staff at KB Kookmin and NH Nonghyup colluded with brokers to issue fraudulent loans.

Enforcement

JPX Cuts Pay of Top Executives Over Insider Trading Case

By Thisanka Siripala | 05/02/2025

JPX also released a report prepared by an independent directors’ investigation committee, which described the insider trading case as “unprecedented”​

Enforcement

Hong Kong Court Jails Ex-Lawmaker for Defrauding Stock Exchange

By Sanday Chongo Kabange | 04/02/2025

A father and son were jailed for concealing a backdoor listing from the stock exchange. A third individual was jailed for laundering HKD 42 million.

Enforcement

ASIC Commences Investigation into Dec 2024 Market Disruption

By Manesh Samtani | 04/02/2025

The investigation is looking into whether the market disruption at ASX constituted a breach of its obligations as a CS facility licensee.

Enforcement

Swiss Court Convicts Trafigura and Senior Exec for Bribery

By Nithya Subramanian | 04/02/2025

This is the first time Switzerland’s Federal Criminal Court has ruled on a company’s liability for bribing of a foreign official.

Enforcement

Former Archegos CFO Sentenced to 8 Years in Prison

By Thisanka Siripala | 04/02/2025

Former CFO Patrick Halligan played a key role in helping Archegos obtain loans and in concealing risks from counterparties and others.