Financial Crime

Market Abuse

FSC Korea to Expand Enforcement Toolkit to Target Unfair Trading

By Editors | 09/08/2024

Those found engaging in unfair trading activities will face a 10-year ban on trading in the capital market and potentially have their names disclosed publicly.

Market Risk

CSRC Directs Asset Managers to Cap Bond Fund Duration

By Manesh Samtani | 09/08/2024

The CSRC has also slowed down approvals of new bond funds, while the  PBOC has asked rural banks to limit their bond investments.

Market Abuse

KRX Hires AI Firm to Develop Short-Selling Detection System

By Editors | 09/08/2024

KRX has signed a service contract with Conan Technology to develop its new short-selling detection system.

Fraud, Scams & Cybercrime

Australia to Roll Out ‘Confirmation of Payee’ in Early 2025

By Sanday Chongo Kabange | 09/08/2024

SWIFT has been selected to develop a central matching service to underpin the ‘confirmation of payee’ services at Australian banks.

Fraud, Scams & Cybercrime

US Court Approves $12.7B Settlement Between CFTC, FTX

By Editors | 09/08/2024

The CFTC’s Ian McGinley said the settlement represents the largest recovery for investors in the regulator’s history.

Fraud, Scams & Cybercrime

Singapore Court Sentences Crypto CTO for Investment Scam

By Ranamita Chakraborty | 09/08/2024

Wang Xinghong developed a crypto mining app that allowed A&A Blockchain to input fake numbers to misrepresent investor returns.

Supervision & Enforcement

Asset Manager H2O Avoids UK Fine by Agreeing to Repay Investors

By Editors | 09/08/2024

The FCA decided not to impose a fine despite “extremely serious” regulatory breaches that resulted in investors being trapped in funds since 2020.

AI Risk & Governance

Google DeepMind Publishes Research on GenAI Misuse Tactics

By Nithya Subramanian | 09/08/2024

The researchers categorise GenAI misuse into two categories – exploitation of GenAI capabilities, and compromise of GenAI systems.

Cryptocurrency

India Has “No Proposal” to Regulate Crypto Beyond Tax, AML

By Ajoy K Das | 09/08/2024

MOF official told Parliament the government will coordinate with global standard-setting bodies before considering any measures domestically.