Financial Crime

Anti-Money Laundering

MAS Announces Key Decisions on New AML Framework for SFOs

By Manesh Samtani | 07/11/2024

MAS has extended the timelines for single family offices to submit initial notifications and annual reports. The transitional period will be 1 year instead of 6 months.

Market Abuse

Sumitomo Mitsui Trust Bank Probing Insider Trading Case

By Thisanka Siripala | 07/11/2024

Sumitomo Mitsui Trust Bank disclosed that a former employee used non-public company information to conduct multiple insider trading transactions.

Anti-Money Laundering

Singapore Court Jails Former Company Director for Money Laundering

By Nithya Subramanian | 07/11/2024

The former director allowed a Chinese money laundering syndicate to use company accounts in Singapore to receive proceeds of criminal conduct.

Market Abuse

SFC Imposes 15-Year Ban on Former Hedge Fund Exec

By Sanday Chongo Kabange | 07/11/2024

The SFC barred the former chief investment officer of a hedge fund from re-entering the industry for 15 years for false trading.

Fraud, Scams & Cybercrime

Taiwan Showcases Financial Sector’s New Anti-Fraud Tech Projects

By Editors | 07/11/2024

The initiatives include a joint learning project aimed at enhancing the accuracy of fraud detection models, and the use of telco data to help identify payment and remittance fraud.

Fraud, Scams & Cybercrime

US Charges Chinese Hedge Fund Manager for Stealing Trade Secrets

By Nithya Subramanian | 06/11/2024

Xiao Zhang allegedly stole code, projects and research from the US investment firm employing him with the intent of establishing his own operation in China.

Market Abuse

FSS Now Also Probing KB Securities in Korea Zinc Case

By Editors | 06/11/2024

KB Securities joins Mirae Asset Securities as a firm being probed over Korea Zinc’s recent share buyback and capital increase plan.

Market Abuse

Korea to Prosecute Unfair Trading Case Involving Virtual Assets

By Editors | 05/11/2024

This is the first case of unfair trading referred for prosecution since the Virtual Asset User Protection Act came into force in July.

Custody & Infrastructure

Crystal Intelligence Highly Commended for Blockchain Analytics & Investigations Solution

By Editors | 05/11/2024

Crystal Intelligence Highly Commended in the Blockchain Analytics & Investigations Solution at the 2024 Regulation Asia Awards for Excellence