Financial Crime

Conduct, Culture & Accountability

Culture and Conduct as the New Moat in APAC’s Wealth Sector

By Mary Leung | 28/04/2025

Traditional competitive advantages are fading in APAC’s booming wealth management sector, making a strong client-centric culture the new key to success, writes Mary Leung.

Anti-Money Laundering

KOFIU Announces AML Penalties Against Six Firms Including NH Futures

By Editors | 27/04/2025

NH Futures violated its EDD obligations, while a casino operator and four credit cooperatives didn’t report high-value cash transactions on time.

Fraud, Scams & Cybercrime

FBI Identifies Hong Kong as Top Destination for Fraudulent Wire Transfers

By Manesh Samtani | 27/04/2025

Other top international destinations for fraudulent wire transactions in 2024 included Vietnam, Philippines, India and China.

Anti-Bribery & Corruption

Former China Development Bank Official Sentenced to Jail

By Editors | 27/04/2025

The court said Li Jiping used various positions with CDB over 20 years to assist others in obtaining loans and project contracts, receiving bribes in return.

Fraud, Scams & Cybercrime

UPDATED: Malaysia Investigating Unauthorised Trading Activities

By Nithya Subramanian | 26/04/2025

Several brokers reported unauthorised trading in client accounts on Thursday, but the issue is “contained”. Similar incidents were recently reported in Japan.

Fraud, Scams & Cybercrime

Nine Sentenced in Chinese Fraud Scheme Targeting Indian Investors

By Mark Johnston | 26/04/2025

The perpetrators targeted Indian victims on social media and duped 66,800 of them out of INR 517 million.

KYC & CDD

China Launches Pilot Programme to Automate Audit Report Verification

By Manesh Samtani | 26/04/2025

Eight pilot banks will be able to use a new system to verify that audit reports received from loan applicants are genuine and up-to-date.

Fraud, Scams & Cybercrime

HKPF Arrests Eight Over AI-Enabled Fraudulent Account Opening

By Mark Johnston | 26/04/2025

The eight arrests were part of a broader crackdown that led to 503 total arrests over a 10-day period in April.

Market Abuse

FSS, KRX Ramp Up Focus on Stock Manipulation Ahead of Election

By Thisanka Siripala | 25/04/2025

The FSS will refocus efforts on politically-themed stocks to prevent market manipulation ahead of the June presidential election.