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Financial Crime
Anti-Bribery & Corruption
Korea FSS Issues Warning Against NH Investment & Securities
By Editors | 30/07/2024
The firm provided benefits to eight corporations to induce them to sign retirement pension contracts or continue existing contracts.
Fraud, Scams & Cybercrime
Interpol Issues Red Notices for Hong Kong Crypto Promoters
By Sanday Chongo Kabange | 30/07/2024
The HKPF had asked Interpol to help locate the crypto promoters over their suspected role in a cryptocurrency deception case.
Market Abuse
ASIC Launching Dedicated Criminal Investigation Team
By Editors | 30/07/2024
The team will help speed up insider trading investigations and increase the number of cases that are referred for prosecution.
Credit Risk
Korea Intensifies Efforts to Clean Up Real Estate PF Market
By Manesh Samtani | 30/07/2024
The FSS has conducted on-site inspections at non-bank FIs and set a February 2025 timeline for when distressed real estate PF projects should be resolved.
Fraud, Scams & Cybercrime
India, FBI Arrest 43 in Joint Operation Against Cybercrime Network
By Ajoy K Das | 30/07/2024
The cyber-enabled financial crime network operated in multiple countries and is estimated to have defrauded people of over $20mn.
Anti-Money Laundering
New Zealand DIA Issues New AML-CFT Guidance for VASPs
By Sanday Chongo Kabange | 29/07/2024
The guidance clarifies that the travel rule does not apply to transfers to un-hosted/self-hosted wallets, but that customer due diligence is still required.
Fraud, Scams & Cybercrime
Australia: Industry Body Launches ‘Online Scams Code’ for Tech Firms
By Sanday Chongo Kabange | 29/07/2024
The Code was introduced by DIGI as a “proactive initiative” to fast-track consumer protection measures ahead of mandatory codes being introduced in Australia.
Payments & Settlements
RBI Fines Visa and Two Other Payment System Operators
By Ajoy K Das | 29/07/2024
Visa was penalised for implementing a payment authentication solution without obtaining regulatory clearance from the RBI.
KYC & CDD
France Restricts Access to Beneficial Ownership Register
By Editors | 29/07/2024
Competent authorities, professionals subject to AML/CFT obligations, and certain other individuals and entities will still be able to access the data.
Anti-Money Laundering
A Whole New World for the Financial Action Task Force?
By Fatima Alsancak | 29/07/2024
With the next round of country assessments starting, the new FATF President has a lot of work to do over the next two years.
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