Financial Crime

Market Abuse

Mizuho To Pay $1.25mn Fine To US SEC

By Manesh Samtani | 26/07/2018

SEC alleged that Mizuho failed to prevent traders sharing stock buyback information pertaining to its issuer clients with each other and with hedge fund clients.

Cybersecurity

SingHealth Breach Prompts MAS Tightening of Customer Verification

By Garima Chitkara | 26/07/2018

MAS asked financial institutions to use additional information like one-time passwords and biometrics to identify consumers over and above existing consumer verification processes.

Anti-Money Laundering

Combating Financial Crime with Data Analytics – MAS

By Manesh Samtani | 24/07/2018

In the year ahead, the MAS will focus on the use of data analytics as well as boosting industry collaboration in its fight against money laundering and terrorism financing.

Fraud, Scams & Cybercrime

China’s P2P Lending Sector Suffers Panic – Report

By Manesh Samtani | 22/07/2018

Over 100 peer-to-peer lenders have failed so far this month, with some users turning up at operators’ offices to demand early repayment.

Market Abuse

Beijing High Court Overturns CSRC Fine in Insider Trading Case

By Mark Pufpaff | 20/07/2018

The court overturned a ¥130mn fine due to lack of testimony from the person who allegedly provided the key deal information in the case.

Cloud & Infrastructure

Japan FSA Reorganises to Meet Fintech Challenge

By Editors | 19/07/2018

Newly created Strategy Development and Management Bureau responsible for financial policy, fintech, cryptocurrencies, money laundering, as well as administraitive duties and inspections at financial institutions.

Fraud, Scams & Cybercrime

South Korea Investigates Four More Banks for Lending Fraud

By Garima Chitkara | 19/07/2018

Four regional banks suspected of wrongfully calculating loan rates for consumers will be investigated by the FSS starting next month, after internal probes found over 290 cases of lending fraud.

Cryptocurrency

Crypto Assets Come Under International Regulatory Scrutiny

By Garima Chitkara | 19/07/2018

The FSB submitted a report to the G20 detailing a framework to monitor potential contagion risks and wealth effects arising from crypto-assets.

Market Abuse

Korea Exchange to Boost Monitoring of Short Selling

By Garima Chitkara | 19/07/2018

KRX will launch punitive action for breach of short selling norms by Goldman Sachs and boost its monitoring of improper short selling.