Financial Crime

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    Conduct, Culture & Accountability

    FSC Korea Issues New Responsibility Mapping Guidance

    By Manesh Samtani | 09/07/2024

    The guidance sets out detailed information on how to write and submit responsibility structure maps. A pilot period will be used to encourage early adoption.

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    Trading & Investment

    KRX, Naver to Collaborate on Market, Cyber Surveillance

    By Editors | 08/07/2024

    A key component of the collaboration is to increase monitoring of Naver Pay’s stock discussion rooms and “Shareholder Open Talk” communities.

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    Supervision & Enforcement

    Senate Inquiry Recommends Complete Overhaul of ASIC

    By Sanday Chongo Kabange | 08/07/2024

    Senator Andrew Bragg said too many Australians have been hurt by ASIC’s “persistent failure” to enforce the law and win prosecutions.

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    Payments & Settlements

    Russia, Iran Integrate National Payment Systems

    By Editors | 08/07/2024

    Work to link Russia’s MIR network and Iran’s Shetab has been finalised. Agreement also signed on use of national currencies.

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    Anti-Money Laundering

    HKMA Fines DBS for Historical AML Deficiencies

    By Sanday Chongo Kabange | 08/07/2024

    HKMA investigation found deficiencies in the bank’s systems and controls for compliance with the AMLO.

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    Anti-Money Laundering

    Nordea Charged for Laundering $3.8b for Russian Clients

    By Editors | 08/07/2024

    Danish authorities said Nordea did not adequately investigate transactions by Russian clients and ignored other warnings.

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    Fraud, Scams & Cybercrime

    Australia: ATO Joins Anti-Scam Intelligence Sharing Platform

    By Sanday Chongo Kabange | 08/07/2024

    The ATO has become the first government agency to join the ‘AFCX Anti‑Scam Intelligence Loop’.

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    PEPs & Sanctions

    US Working on Plan to Target Russian ‘Shadow Fleet’ Vessels

    By Editors | 08/07/2024

    The US is reportedly looking to impose specific penalties on Russian shadow fleet tankers but the effort has stalled.

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    PEPs & Sanctions

    Iran’s New President Seeks Lifting of Sanctions

    By Editors | 08/07/2024

    New President Masoud Pezeshkian has indicated Iran would seek greater engagement with the US and a revival of the JCPOA.

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    Anti-Bribery & Corruption

    China Probes Former Top Official of Banking Association

    By Editors | 05/07/2024

    New probes against two former officials of Agricultural Bank of China. Former CITIC official referred for criminal prosecution.

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