Anti-Money Laundering

Cryptocurrency

Singapore: “Several” DPT Licences in Final Stages of Review

By Editors | 27/07/2021

Of around 170 digital payment token service providers who applied for a licence, 30 applications have been withdrawn after engagement with MAS and two have been rejected.

Market Abuse

SFC Calls on Industry to Report Suspected Ramp-and-dump Activity

By Manesh Samtani | 26/07/2021

Ramp-and-dump scams now account for about half of the market manipulation cases being investigated by the SFC. Overseas investors also being targeted.

Anti-Money Laundering

KoFIU Notifies Foreign VASPs of Their Obligation to Register

By Manesh Samtani | 23/07/2021

Foreign VASPs that continue to target Korean customers after 24 September without registering with KoFIU will be subject to penalties in Korea.

Anti-Money Laundering

European Commission Presents Package of AML/CFT Reforms

By Editors | 23/07/2021

A new EU-level AML authority will coordinate national authorities to ensure the private sector correctly and consistently applies EU rules.

Market Abuse

Singapore: Three Individuals Charged for Insider Trading

By Editors | 22/07/2021

The former CFO of SGX-listed Broadway Industrial Group communicated insider information to two other individuals.

Anti-Money Laundering

Japan Banks to Deploy Shared System for AML/CFT Monitoring

By Manesh Samtani | 22/07/2021

The FSA’s Hiroshi Ozaki said the banking sector is planning to deploy a shared transaction monitoring and screening system for AML/CFT across the industry.

Anti-Money Laundering

HKMA Targets Effectiveness in Addressing AML, Fraud risk

By Manesh Samtani | 22/07/2021

HKMA Executive Director Carmen Chu highlights the need for transformation and collaboration to combat new AML and fraud challenges in the digital era.

Anti-Money Laundering

Singapore Man Admits to Laundering Money in SkillsFuture Scam

By Ranamita Chakraborty | 20/07/2021

A former Grab and Uber driver has admitted to playing the role of a “dummy director” of several shell companies involved in the SkillsFuture scam.

Anti-Money Laundering

SFC Sanctions Sino-Rich Responsible Officers Over AML Breaches

By Editors | 20/07/2021

Sino-Rich Securities & Futures was fined for AML breaches in March. Its CEO and another director have been deemed responsible.