Financial Crime

    image

    Supervision & Enforcement

    US PCAOB Revokes Registration of China-based Accounting Firm

    By Editors | 13/11/2024

    The Shenzhen-based CPA firm was censured and had its registration revoked over reporting failures and failure to cooperate with an investigation.

    image

    Anti-Money Laundering

    Australia’s AGD Issues Supplementary Submission on AML Amendment Bill

    By Thisanka Siripala | 13/11/2024

    The AGD responds to issues raised in submissions to the Senate Legal and Constitutional Affairs Legislation Committee on certain aspects of the Bill.

    image

    Anti-Money Laundering

    China Approves Passage of Revised Anti-Money Laundering Law

    By Manesh Samtani | 13/11/2024

    The revised law takes effect on 1 January 2025, strengthening FIs’ AML obligations, increasing penalties for breaches, and enabling China to introduce its own high-risk country list.

    image

    Fraud, Scams & Cybercrime

    Australia Jails Ex-Investment Manager Over False Performance Reports

    By Sanday Chongo Kabange | 13/11/2024

    The forged portfolio performance verification reports falsely verified or claimed a history of successful investment returns.

    image

    Payments & Settlements

    Russia, Iran Implement First Phase of Payment System Linkage

    By Editors | 13/11/2024

    Travellers from Iran can now use riyal balances on their Shetab debit cards at ATMs in Russia to withdraw rubles.

    image

    Anti-Money Laundering

    Vietnam: SBV to Establish New Anti-Money Laundering Department

    By Editors | 12/11/2024

    The new department is part of amendments to the functions, missions, authority and organisational structure of the State Bank of Vietnam.

    image

    Fraud, Scams & Cybercrime

    Asian FinTech Associations Sign MoU on Anti-fraud Collaboration

    By Editors | 12/11/2024

    14 Asian FinTech associations signed an MoU last week at an event hosted in Taiwan to enhance collaborations in anti-fraud.

    image

    Fraud, Scams & Cybercrime

    Singapore Introduces Bill to Give Police Additional Anti-Scam Powers

    By Nithya Subramanian | 12/11/2024

    The bill will allow the police to impose restrictions on individuals’ bank accounts and credit access if necessary to protect them from scams.

    image

    Fraud, Scams & Cybercrime

    Korea Introducing New Disclosure Rules to Prevent Embezzlement

    By Editors | 12/11/2024

    Listed companies and large unlisted companies will have to make annual disclosures on the control measures they use to prevent and detect misappropriation of funds.

    image

    Market Abuse

    Citi, Barclays Facing Penalties in Korea for Illegal Short Selling

    By Editors | 12/11/2024

    According to local reports, the penalties could reach $14.3mn for Citi and $50mn for Barclays, breaking previous records.

    JOIN OUR NEWSLETTER

    An exclusive weekly selection of top stories from the Regulation Asia editorial team.