Financial Crime

Market Abuse

ASIC Charges Four in Telegram ‘Pump and Dump’ Case

By Sanday Chongo Kabange | 24/07/2024

Four individuals coordinated to select penny stock targets and announced those targets in a public Telegram group named the ‘ASX Pump and Dump Group’.

Payments & Settlements

India Launches Digital Payments Wallet for Inbound Travellers

By Ajoy K Das | 24/07/2024

The ‘UPI One World’ wallet is a prepaid payment instrument enabling visitors to India to make cashless payments across the country.

Stablecoins

Emerging Markets Particularly Vulnerable to Stablecoin Risks: FSB

By Editors | 24/07/2024

New FSB report says EMDEs are particularly vulnerable to macro-financial risks associated with the use of foreign currency-pegged stablecoins.

Fraud, Scams & Cybercrime

RBI Flags Concerns Over Digital Fraud, Outsourcing Risks

By Ajoy K Das | 24/07/2024

RBI governor Shaktikanta Das called on banks to strengthen customer onboarding and transaction monitoring to address digital fraud.

PEPs & Sanctions

Hong Kong Has Become a Sanctions Evasion Hub: Report

By Manesh Samtani | 24/07/2024

New report says Hong Kong has emerged as a “global centre for illicit finance and trade” and the city’s banks should be sanctioned.

PEPs & Sanctions

US Commerce Dept Expands Export Controls Against Iran

By Editors | 24/07/2024

The expansion of export controls seeks to address concerns regarding Iran’s potential use of US technology in weapons systems.

PEPs & Sanctions

Japan Imposes First Sanctions Against Israelis in West Bank

By Editors | 24/07/2024

Japan designated four Israeli settlers involved in violent acts against Palestinians as targets for asset freezing measures.

Anti-Money Laundering

US Authorities Recover Another $85m in 1MDB Case

By Nithya Subramanian | 24/07/2024

The DOJ secured the recovery of a Swiss financial account along with diamond jewellery and artwork worth a combined $85mn.

Emerging Prudential Risks

APRA Issues Final Version of Digital Prudential Handbook

By Sanday Chongo Kabange | 24/07/2024

The handbook brings together all of APRA’s prudential standards, prudential practice guides and relevant supporting information in one place.