Enforcement

The FSC has meanwhile released new administrative guidance on private funds, aimed at strengthening supervision of the sector.

China should prepare for potential US sanctions by increasing the use of CIPS for cross-border transactions, and by developing legislation similar to the EU’s blocking statute.

The syndicate members allegedly used credit card details stolen from cardholders in Singapore, US and Europe to make fraudulent online purchases of electronic products in Hong Kong.

SEBI identified instances where trading participants were consistently making losses on stock options trading, only to reverse the losses later in the day or the next day.

Sri Lanka's FIU has revealed that two banks and one finance company were penalised in 2019, and two other finance companies in 2020.

Apical Asset Management lacked basic AML/CFT controls despite complex ownership structures used by some of its clients. Its two directors were reprimanded.

Najib Razak was found guilty of three counts of criminal breach of trust, three counts of money laundering and one count of abuse of power.

Westpac says it failed to report about 175,000 transactions to AUSTRAC as required, and may have filed 365,000 TTRs incorrectly.

The 62-year-old Barry Cheung was found guilty a week earlier of conspiracy to defraud the SFC into letting HKMEx keep its licence to provide automated trading services in Hong Kong.

A lot of countries may have strong AML/CTF systems in place, but in practice they are not working, says a new report from the Basel Institute on Governance.