Financial Crime

Operational Risk

OJK Issues New Regulation on Bank Financial Reporting

By Editors | 01/11/2024

Banks have 3 months to implement financial reporting controls and 6 months to assign responsibility for preventing fraud or manipulation in financial reports.

Anti-Money Laundering

Singapore Launches Law Enforcement Strategy to Tackle Money Laundering

By Nithya Subramanian | 01/11/2024

The strategy identifies 4 focus areas and 10 key actions to ensure that law enforcement agencies remain at the forefront of AML efforts.

PEPs & Sanctions

US Targets Almost 400 Entities in Latest Russia Sanctions Package

By Editors | 01/11/2024

The action targets individuals and entities across 17 jurisdictions, including India, China, Switzerland, Malaysia, Thailand, Singapore, and the UK.

Structural Regulation

US, Taiwan to Start Negotiating Agreement to Address Double Taxation

By Editors | 01/11/2024

Currently, Taiwanese businesses and individuals are taxed on their income by both the US and Taiwanese governments.

Market Abuse

SFC Sets May 2025 Effective Date for New Market Sounding Guidelines

By Manesh Samtani | 01/11/2024

The SFC has narrowed the scope of the market sounding guidelines and clarified some requirements in response to market feedback.

Market Abuse

South Korea Charges BNP Paribas for Naked Short Selling – Report

By Editors | 01/11/2024

BNP Paribas and Australian hedge fund Regal Funds Management have reportedly been indicted for violating Korea’s short-selling rules.

Conduct, Culture & Accountability

ASIC Files Lawsuit Against Oak Capital Over Lending Model

By Sanday Chongo Kabange | 01/11/2024

ASIC alleges Oak Capital designed its lending model to avoid the application of the National Credit Code and Consumer Credit Act.

Anti-Money Laundering

FATF Upgrades South Korea on R.8 in New Follow-up Report

By Editors | 31/10/2024

The report says Korea has addressed several deficiencies in its AML/CFT framework that will help prevent the abuse of NPOs.

PEPs & Sanctions

Australia Completes Review of Autonomous Sanctions Framework

By Editors | 31/10/2024

Most submissions to the review supported proposals to streamline the legal framework, improve the permit application process, and legislate a humanitarian exemption.