Financial Crime

Market Abuse

Ex-China Forestry Execs Found Culpable of Market Misconduct

By Sanday Chongo Kabange | 08/08/2024

Former CEO and former chairman culpable for disclosing false information in China Forestry’s IPO prospectus, annual results, and annual report in 2008 and 2009.

Fraud, Scams & Cybercrime

German Prosecutors Charge Two More Ex-Wirecard Execs

By Ranamita Chakraborty | 08/08/2024

The two executives allegedly breached their fiduciary duties by approving unsecured loans that were used to embezzle “several hundred million euros”.

KYC & CDD

HKMA Issues Circular on Changes to Tax Reporting Jurisdictions

By Sanday Chongo Kabange | 08/08/2024

The HKMA said banks are expected to treat customers fairly and minimise their burden when reporting their tax information.

Fraud, Scams & Cybercrime

Australian Police Obtain New Intelligence on Crypto Scams

By Sanday Chongo Kabange | 08/08/2024

The AFP identified over 2,000 compromised crypto wallets belonging to Australians by participating in a global anti-scam initiative launched by Chainalysis.

Market Risk

PBOC Requests Daily Reports from FIs on Bond Holdings

By Editors | 08/08/2024

NAFMII has also launched a probe against four rural commercial banks over suspected manipulation in the treasury bond market.

Anti-Money Laundering

US, Germany Take Down Illicit Crypto Platform Cryptonator

By Editors | 08/08/2024

Cryptonator facilitated transactions worth USD 1.4 billion, including those linked to sanctioned entities and criminal marketplaces.

Fraud, Scams & Cybercrime

US SEC Investigates Banks Over Interest Underpayments

By Nithya Subramanian | 08/08/2024

The SEC is probing some of the major US banks over allegations that they systematically cheated customers out of interest on deposits.

Anti-Money Laundering

India ED Has Pursued Over 5,000 ML Cases Since 2014

By Ajoy K Das | 08/08/2024

Minister of State for Home Affairs Nityanand Rai said 40 convictions have been secured under the the Prevention of Money Laundering Act.

Anti-Money Laundering

Revised Anti-Money Laundering Law Takes Effect in Taiwan

By Manesh Samtani | 08/08/2024

The amendments introduce criminal penalties for overseas crypto firms that offer services in Taiwan without establishing a local unit and complete an AML registration process.