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Financial Crime
Market Abuse
Malaysia: Court of Appeal Upholds SC’s Case Related to Insider Trading
By Nithya Subramanian | 29/11/2024
The former deputy chairman of a listed company was ordered to pay MYR 3.28 million in disgorgement and a MYR 1 million civil penalty.
Fraud, Scams & Cybercrime
UK FCA Faces Criticism Over Consumer Protection Shortfalls
By Thisanka Siripala | 29/11/2024
A parliamentary group released a report based on testimony from 174 respondents collected over two and a half years.
Conduct, Culture & Accountability
FCA Revises Whistleblowing Policies Following Independent Review
By Thisanka Siripala | 28/11/2024
The updated policies clarify the channels available for raising concerns, extend applicability to former employees, and outline expectations during the grievance process.
PEPs & Sanctions
US Appeals Court Overturns Tornado Cash Sanctions
By Editors | 28/11/2024
The court said federal law only gives OFAC the authority to sanction property, and Tornado Cash’s smart contracts do not qualify as property.
Anti-Money Laundering
APG Typologies Report Shines Light on Misuse of Legal Persons
By Thisanka Siripala | 28/11/2024
The APG’s 2024 typologies report says legal persons including shell companies have emerged as primary vehicles misused by criminals.
Market Abuse
UK FCA Fines Macquarie Unit £13m for Control Failures
By Mark Johnston | 28/11/2024
The FCA said serious control failures allowed a junior trader to conceal over 400 fictitious trades to hide trading losses.
Anti-Money Laundering
Vietnam Property Tycoon Asked to Repay $11b to Avoid Execution
By Nithya Subramanian | 28/11/2024
Under Vietnamese law, if Lan can return three-quarters of the embezzled assets, the jury can consider a reduction in her sentence.
Fraud, Scams & Cybercrime
Singapore Court Commences Nickel Trading Fraud Trial
By Nithya Subramanian | 28/11/2024
Ng Yu Zhi faces charges of fraudulent trading, cheating, forgery and money laundering. The trial is expected to take over 50 days.
Emerging Prudential Risks
APRA Establishes New “Specialist Geopolitical Risk Team”
By Thisanka Siripala | 28/11/2024
The “specialist geopolitical risk team” is collaborating with other regulators to examine how global shocks may reach Australia and impact the financial system.
Anti-Money Laundering
Taiwan FSC Fines Two Crypto Exchanges for AML Violations
By Mark Johnston | 28/11/2024
FSC investigations found lapses involving CDD, transaction monitoring, record-keeping, and suspicious transaction reporting.
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