Financial Crime

Market Abuse

Japan FSA May Take Action Against MUFG Entities – Report

By Nithya Subramanian | 07/06/2024

MUFJ Bank and two affiliated securities firms allegedly shared nonpublic client information without consent.

Anti-Money Laundering

Vietnam Death Row Tycoon Faces Money Laundering Charges

By Nithya Subramanian | 07/06/2024

Vietnamese police have concluded the second phase of their investigation into Truong My Lan, who was sentenced to death in April.

Conduct, Culture & Accountability

ASIC Investigating Financial Hardship Practices at Lenders

By Manesh Samtani | 07/06/2024

ASIC commenced court action against one major bank last year. Three other lenders are under formal investigation.

KYC & CDD

SEBI Relaxes Timeline for FPIs to Disclose Material Changes

By Ajoy K Das | 06/06/2024

“Type I” material changes must be disclosed within seven days, but supporting documents can be provided within 30 days.

PEPs & Sanctions

Taiwan Adds Nitrocellulose to Export Control List

By Editors | 06/06/2024

Taiwan is expanding its restrictions on exports of nitrocellulose, which is used to make smokeless gunpowder and ammunition propellant.

Anti-Money Laundering

Myanmar Cracks Down on Cross-border Remittances

By Editors | 06/06/2024

“Hundi” cash transfer services and overseas property deals are being blamed for a severe depreciation of Myanmar’s currency.

Anti-Money Laundering

17 Others Involved in Singapore Money Laundering Probe – Report

By Nithya Subramanian | 06/06/2024

The SGD 3 billion in cash and assets seized or issued with prohibition of disposal orders belonged to 27 individuals, not just the 10 accused so far.

Cryptocurrency

Japan FSA Directs Crypto Firm to Report on $300m Theft

By Editors | 06/06/2024

The FSA directed DMM Bitcoin to investigate and report on the cause of the theft. The government will monitor these efforts and “respond appropriately”.

Fraud, Scams & Cybercrime

SFC Obtains Asset Freeze Orders from Canadian Regulator

By Sanday Chongo Kabange | 06/06/2024

The preservation orders were made to restrain the assets of a former Hong Kong CEO pursuant to the IOSCO EMMoU.