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Financial Crime
Fraud, Scams & Cybercrime
Australia ACMA to Collaborate with UK Ofcom on Combatting Scams
By Sanday Chongo Kabange | 08/12/2024
The ACMA and Ofcom will collaborate and share information to tackle the “pervasive scourge” of spam and scam communications.
PEPs & Sanctions
DBS Expands Team Handling Russian Wealth Assets – Report
By Editors | 07/12/2024
DBS said every client is treated on his or her own merits and that the bank does not deal with sanctioned individuals.
Fraud, Scams & Cybercrime
Australian Lawmakers Call for Reforms to Address Financial Abuse
By Thisanka Siripala | 07/12/2024
Parliamentary report calls for legislative reforms and for FIs to play a proactive role in identifying and supporting individuals facing financial abuse
Supervision & Enforcement
HKMA Consults on Amendments to Hong Kong Banking Ordinance
By Manesh Samtani | 06/12/2024
Among other things, the HKMA proposes to establish a statutory regime enabling it to exercise direct regulatory and supervisory powers over holding companies of banks.
PEPs & Sanctions
China Lifts Remaining Restrictions on Australian Red Meat Imports
By Editors | 06/12/2024
Over the last two years, China has been lifting restrictions on Australian export commodities that started in 2020 amid rising tensions between the two countries.
Anti-Bribery & Corruption
DOJ Settles With McKinsey Over South Africa Bribery Scheme
By Nithya Subramanian | 06/12/2024
McKinsey will pay $122mn to resolve an investigation into bribes paid to South African officials to secure lucrative consulting contracts.
Conduct, Culture & Accountability
ASIC Calls Out Breach Reporting Delays & Deficiencies
By Thisanka Siripala | 06/12/2024
A review of the compliance arrangements of 14 licensees identified delays and deficiencies in how they identify, escalate, and report breaches.
PEPs & Sanctions
China Sanctions 13 US Military Firms & Six Executives
By Editors | 06/12/2024
The sanctions, imposed under China’s Anti–Foreign Sanctions Law, are a response to a recent announcement of US arms sales to Taiwan.
Anti-Bribery & Corruption
China: Former CISF Official Sentenced to 13 Years for Bribery
By Mark Johnston | 06/12/2024
A former China Insurance Security Fund official has been sentenced to 13 years in prison for bribery and abuse of power.
Fraud, Scams & Cybercrime
Hong Kong Banks to Extend Fraud Alerting Service to ATMs
By Manesh Samtani | 06/12/2024
Starting from 8 December 2024, 22 participating banks will gradually implement the alert mechanism at their ATMs.
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