ENFORCEMENT

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    Enforcement

    US DOJ, Jho Low Reach Global Pact on 1MDB Asset Forfeiture: Report

    By Nithya Subramanian | 01/07/2024

    The agreement forever resolves the United States’ civil, criminal and administrative asset forfeiture actions of monies and assets traceable to 1MDB.

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    Enforcement

    Federal Court Orders Ferratum Australia to Pay A$16m

    By Editors | 28/06/2024

    The Court found that Ferratum’s non-compliance arose from its Finland-based parent company’s lack of attention to Australian regulatory requirements

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    AML / KYC

    Taiwanese Singer Facing Prosecution Over JPEX Crypto Fraud

    By Editors | 28/06/2024

    Popular Taiwanese singer Nine Chen reportedly received 320,000 USDT to act as JPEX’s brand ambassador last year.

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    AML / KYC

    US DOJ to Recover Additional $100mn in 1MDB Case

    By Nithya Subramanian | 27/06/2024

    Jho Low will forfeit a luxury apartment in Paris and artworks by Andy Warhol and Claude Monet purchased for USD 35 million.

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    Enforcement

    SFC Bars Former Securities Exec Over Secret Trading Account

    By Sanday Chongo Kabange | 27/06/2024

    The former chief operations officer of DA International Financial Service violated the company’s employee dealing policy.

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    Enforcement

    OFAC Fines Italian Animation Company for Sanctions Violations

    By Editors | 27/06/2024

    Mondo TV made wire transfers via US financial institutions to an animation studio owned by the North Korean government.

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    AML / KYC

    Singapore’s National Asset Recovery Strategy To Enhance AML Regime

    By Nithya Subramanian | 27/06/2024

    The newly published asset recovery strategy takes a multi-faceted approach and is based on four pillars – detect, deprive, deliver and deter.

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    Enforcement

    China Targets Regulatory, Banking Officials in New Corruption Probes

    By Mark Johnston | 26/06/2024

    Among the new targets are former officials from the CSRC, NFRA, Agricultural Bank of China, ICBC and Citi Group.

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    Enforcement

    $137m Embezzled from Korean FIs from 2018-2023: FSS

    By Nithya Subramanian | 26/06/2024

    Less than 10% of the embezzled funds have been recovered to date. Meanwhile, the FSS has expanded its inspection team handling Woori’s latest embezzlement case.

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    Enforcement

    Japan FSA Orders MUFG Units to Correct Control Deficiencies

    By Mark Johnston | 26/06/2024

    The MUFG units breached Japan’s “firewall” regulations by sharing non-public client information without authorisation, the FSA said.

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