Financial Crime

Fraud, Scams & Cybercrime

Former MUFG Bank Manager Arrested for Safe Deposit Box Thefts

By Thisanka Siripala | 18/01/2025

The former employee has reportedly admitted to the thefts, citing significant financial losses from FX trading and horse racing bets as her motive.

PEPs & Sanctions

US Announces Final Russia Sanctions of Biden Administration

By Editors | 18/01/2025

The US re-designated almost 100 entities so it has the power to impose secondary sanctions on foreign persons, including foreign FIs, that do business with them

Cloud & Infrastructure

ASIC Appoints New CEO to Spearhead Next Phase of Transformation

By Thisanka Siripala | 17/01/2025

Starting 17 March 2025, ASIC’s new CEO will be Scott Gregson, who has been at the ACCC for nearly 30 years and currently serves as its CEO.

Supervision & Enforcement

SFC, HKEX Take Joint Action Against Listed Company, Former Directors

By Sanday Chongo Kabange | 17/01/2025

The SFC and HKEX said the former directors of mobile gaming company FingerTango misused IPO proceeds after the company went public in 2018

Anti-Money Laundering

Belgian Regulator Probes ING Over for Alleged AML Violations

By Nithya Subramanian | 17/01/2025

ING Bank allegedly delayed reporting suspicious financial activities linked to former European Commissioner Didier Reynders.

Cybersecurity

Outgoing US President Signs Executive Order on Cybersecurity

By Thisanka Siripala | 17/01/2025

The executive order is aimed at strengthening US cybersecurity infrastructure and improving accountability among software vendors

Fraud, Scams & Cybercrime

Korea FSS Launches Probe at IBK Over Fraudulent Loans

By Mark Johnston | 17/01/2025

Current and former employees of Industrial Bank of Korea allegedly participated in a KRW 23.95 billion fraudulent loan scheme

Cryptocurrency

SFC Extends ‘Swift Licensing Process’ to New VATP Applicants

By Sanday Chongo Kabange | 17/01/2025

The SFC released a circular detailing the new licensing process as well as inspection findings identifying deficiencies in VATP systems and processes.

Supervision & Enforcement

US OCC Fines Three Former Wells Fargo Execs for Misconduct

By Thisanka Siripala | 17/01/2025

The OCC’s penalties conclude enforcement proceedings against the last of 11 individuals involved in the fake-accounts scandal.