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Financial Crime
Fraud, Scams & Cybercrime
Montenegro Confirms Decision to Extradite Do Kwon to Korea
By Manesh Samtani | 02/08/2024
The decision, which is legally binding, comes after 16 months of extradition proceedings involving competing requests from the US and South Korea.
Conduct, Culture & Accountability
US DOJ Launches Whistleblower Awards Pilot Programme
By Manesh Samtani | 02/08/2024
Whistleblower awards can be up to 30% of the first $100mn in assets forfeited and up to 5% of those between $100-500mn.
Market Abuse
CSRC Replaces Vice Chairman with Enforcement Chief
By Editors | 02/08/2024
According to reports, the change underscores a determination to clean up and tighten oversight of China’s stock market.
Fraud, Scams & Cybercrime
HK Banks Extend Fraud Alerting Service to Counter Transactions
By Editors | 02/08/2024
HKMA said customers will receive fraud risk alerts regardless of whether a transfer is conducted at a branch or through online channels.
PEPs & Sanctions
OFAC Sanctions More Houthi Procurement Facilitators
By Editors | 02/08/2024
The sanctions target “key actors” located in China, Hong Kong, and Yemen who have “directly supported” the Houthis’ weapons procurement efforts.
KYC & CDD
SEBI Proposes Change to Granular Disclosure Rules for FPIs
By Ajoy K Das | 02/08/2024
The proposal will reduce the risk of hidden control by entities from land bordering countries, without requiring FPIs to disclose each and every owner.
Anti-Money Laundering
Amendments to MSB Law Take Effect in Malaysia
By Nithya Subramanian | 02/08/2024
The amendments strengthen BNM’s ability to take enforcement action against unauthorised money services business activities.
PEPs & Sanctions
China Adjust Export Controls for Drones and Related Tech
By Editors | 02/08/2024
The measures explicitly ban the export of all civilian drones that are intended for “non-peaceful purposes” such as terrorist and military activities.
Market Abuse
SEBI Proposes to Widen Scope of Insider Trading Regulations
By Ajoy K Das | 02/08/2024
SEBI proposes a wider definition of ‘connected person’ and to change ‘immediate relative’ to ‘relative’ to capture more individuals.
Fraud, Scams & Cybercrime
ACCC to Create 2nd NASC Fusion Cell to Target Job Scams
By Sanday Chongo Kabange | 01/08/2024
The fusion cell will work with social media platforms, recruitment agencies, financial firms and law enforcement to disrupt job scams.
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