Financial Crime

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    Fraud, Scams & Cybercrime

    Terraform, Do Kwon Agree $4.6b Settlement With US SEC

    By Editors | 13/06/2024

    The settlement comes after a New York jury in April found Terraform Labs and Do Kwon liable on civil fraud charges.

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    PEPs & Sanctions

    US Authorities Arrest Two for Illegal Russia Export Scheme

    By Editors | 13/06/2024

    The two men engaged in a scheme to covertly sell snowmobiles to Russia through an intermediary company in Hong Kong.

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    PEPs & Sanctions

    US Expands Russia Sanctions Ahead of G7 Leaders Meeting

    By Manesh Samtani | 13/06/2024

    New sanctions target Russian financial infrastructure as well as entities in China, Hong Kong, Singapore and Thailand.

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    Fraud, Scams & Cybercrime

    Korea’s Woori Bank Discovers Another Embezzlement Case – Report

    By Editors | 13/06/2024

    An employee at one of Woori’s branches forged documents related to loans and deposits to embezzle funds that were used to invest overseas.

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    Market Abuse

    Shanghai Chipmaker Barred from Launching IPO for 5yrs

    By Editors | 12/06/2024

    The company, already penalised for inflating its 2020 profits, is now barred from listing its shares for five years.

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    Anti-Money Laundering

    Singapore Authorities Tighten Scrutiny of Family Offices

    By Nithya Subramanian | 12/06/2024

    The annual forms for family offices with tax exemptions now ask for more details about beneficial owners and directors.

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    Fraud, Scams & Cybercrime

    RBI Announces Launch of Global Anti-Fraud Hackathon

    By Ajoy K Das | 12/06/2024

    The RBI is inviting innovations and solutions on real time prediction, detection and prevention of fraud in financial transactions.

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    PEPs & Sanctions

    Russia to Dirupt FATF Plenary in Singapore, Ukraine Warns

    By Editors | 12/06/2024

    Ukraine is reportedly warning that Russia will send officials to the FATF Plenary in an attempt to “contact, influence and pressure delegates”.

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    Cryptocurrency

    FSC Korea to Establish Dedicated Virtual Assets Division

    By Editors | 12/06/2024

    The new division is being created as a temporary organisation to establish an effective disciplinary system for the virtual asset market.

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    Fraud, Scams & Cybercrime

    Hong Kong, Singapore to Strengthen Cooperation on Scam Calls

    By Editors | 11/06/2024

    Hong Kong’s OFCA and Singapore’s IMDA have signed an MoU to strengthen their cooperation in combating scam calls and messages.

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