Financial Crime

Fraud, Scams & Cybercrime

Hong Kong IA Bars Ex-Prudential Agent for 14 Years

By Sanday Chongo Kabange | 22/05/2024

The IA said it found the agent’s conduct “so disgraceful” that it unanimously decided to elevate the penalty to a 14-year prohibition.

Anti-Money Laundering

NZ DIA, SkyCity Reach Settlement Over AML Breaches

By Sanday Chongo Kabange | 22/05/2024

A penalty of NZD 4.16 million was proposed to the court to settle SkyCity’s liability over the AML breaches.

PEPs & Sanctions

US Sanctions Blamed for Death of Iranian President

By Editors | 22/05/2024

Iran has been unable to buy aviation spare parts, one of the main reasons cited for the helicopter crash that killed President Ebrahim Raisi.

Anti-Money Laundering

NZ Regulators Endorse New AML/CFT Supervisory Approach

By Sanday Chongo Kabange | 22/05/2024

The DIA, FMA and RBNZ say changes to the AML/CFT requirements will ensure New Zealand is meeting global AML/CFT standards.

PEPs & Sanctions

Russia Seizes Assets of Deutsche Bank, Commerzbank, UniCredit

By Editors | 22/05/2024

The banks were among the guarantor lenders under a contract for the construction of a gas processing plant which was terminated due to sanctions.

Supervision & Enforcement

OJK Indonesia Launches Roadmap to Strengthen Rural Banks

By Editors | 21/05/2024

The main focus will be on strengthening capital, accelerating consolidation, and strengthening governance practices, OJK said.

Fraud, Scams & Cybercrime

NYAG Secures $2bn Settlement from Crypto Lender Genesis

By Editors | 21/05/2024

New York Attorney General Letitia James said the settlement was the largest against a crypto firm in the state’s history.

Market Abuse

Bursa Malaysia Introduces New Investor Protection Tool

By Nithya Subramanian | 21/05/2024

The newly launched Trading Reminders will alert investors to be cautious with stocks showing unusual movements.

Supervision & Enforcement

MAS Issues Prohibition Order Against Former DBS Employee

By Nithya Subramanian | 21/05/2024

Muhammad Hafiz Bin Ismail applied to be a wealth planning manager with DBS but failed to state in his fit and proper declaration that he was under investigation.