Financial Crime

Market Abuse

Korean Regulators Refer Crypto Manipulation Case for Prosecution

By Mark Johnston | 23/01/2025

The case is the first processed in accordance with the official investigation procedures set by the new Virtual Asset User Protection Act

Fraud, Scams & Cybercrime

BSP Revises IT Risk Management Rules to Align with New Anti-Scams Law

By Sanday Chongo Kabange | 23/01/2025

The BSP said BSFIs must comply with the new regulations by 30 June 2025 and that a shared accountability framework will be adopted.

Anti-Money Laundering

Singapore Court Charges Ex-Filing Agent in $3b Money Laundering Case

By Nithya Subramanian | 23/01/2025

Former CSP director charged for falsifying company accounts, making false representations to authorities, and forging documents to cheat FIs.

Conduct, Culture & Accountability

ASIC Probing ANZ for Underpaid Interest, Hardship Provisions

By Editors | 23/01/2025

ASIC reportedly investigating allegations that ANZ miscalculated interest on thousands of customer savings accounts.

Fraud, Scams & Cybercrime

US SEC Imposes Penalties on Digital Currency Group and Former CEO

By Mark Johnston | 22/01/2025

DCG and its former CEO will pay a total $38.5mn for misleading investors about the financial health of Genesis Global Capital.

Fraud, Scams & Cybercrime

RBI Directs FIs to Implement Safeguards Against Fraud

By Nithya Subramanian | 22/01/2025

The RBI asked banks and other financial institutions to strengthen safeguards against fraud involving mobile numbers

Fraud, Scams & Cybercrime

NYAG Secures $1b Settlement Against ‘Predatory Lender’

By Nithya Subramanian | 22/01/2025

Yellowstone Capital exploited small businesses with fraudulent loans carrying illegal interest rates as high as 820% annually.

Conduct, Culture & Accountability

Japan FSA Suspends Audit Firm for Six Months for Misconduct

By Thisanka Siripala | 22/01/2025

The FSA said Aska Audit Corporation had weak audit quality controls, fabricated audit records and that its leadership lacked professional ethics

Cryptocurrency

NYDFS Issues Alerts on Proliferation of Meme Coins

By Nithya Subramanian | 22/01/2025

The NYDFS said that meme coins are not subject to rigorous regulatory standards and that their creators are often involved in “pump-and-dump schemes”.