Financial Crime

Conduct, Culture & Accountability

FCA Fines HSBC for Failures in Treatment of Customers

By Editors | 24/05/2024

The bank was fined GBP 6.3 million, on top of investing GBP 94 million to correct the issues and paying redress worth GBP 185 million.

Fraud, Scams & Cybercrime

Australia: Scam Losses Have Declined Further

By Sanday Chongo Kabange | 24/05/2024

Losses reported to Scamwatch, AFCX and ReportCyber declined in the January to March quarter, compared to the previous quarter.

Supervision & Enforcement

CFTC Fines JPMorgan $200m Over Trade Surveillance Gaps

By Editors | 24/05/2024

Half of the penalty will be offset by resolutions made with the OCC and Federal Reserve Board in March.

Trade Based Money Laundering

A Radical Re-think on Combatting Trade Based Money Laundering

By Kelvin Toh | 24/05/2024

Kelvin Toh discusses the factors hindering current efforts to combat TBML, and what more can be done to combat this activity.

Fraud, Scams & Cybercrime

“Ecosystem Approach” Vital to Combat Digital Fraud: HKMA

By Nithya Subramanian | 23/05/2024

Coordinated global efforts and information sharing initiatives are becoming more commonplace to combat fraud, but there is still work to do, said HKMA’s Carmen Chu.

PEPs & Sanctions

China Sanctions US Firms Over Arms Sales to Taiwan

By Editors | 23/05/2024

The sanctioned entities include units of Lockheed Martin, Raytheon, General Dynamics and other companies, as well as 10 executives.

Anti-Bribery & Corruption

HK ICAC Signs Cooperation MoUs with UNODC, Four Countries

By Sanday Chongo Kabange | 23/05/2024

The MoUs with the UNODC and the anti-corruption authorities of Kazakhstan, Mauritius, Saudi Arabia and South Africa will enhance anti-corruption cooperation.

Fraud, Scams & Cybercrime

Australia Anti-Scam Centre Publishes Fusion Cell Report

By Sanday Chongo Kabange | 23/05/2024

The investment scam fusion cell succeeded in removing scam ads from digital platforms, taking down investment scam websites, and diverting scam calls to recorded warnings.

Market Abuse

LIBOR Convictions to be Raised With UK Supreme Court

By Editors | 22/05/2024

The Court of Appeal opened the door for Tom Hayes and Carlo Palombo to directly apply to the Supreme Court for permission to appeal their convictions.