Financial Crime

Anti-Bribery & Corruption

ICBC, Bank of China Execs Facing Corruption Prosecutions

By Editors | 13/05/2024

New corruption investigations also launched against former officials from the NFRA, CCB and China Development Bank.

Fraud, Scams & Cybercrime

Singapore Court Convicts Hin Leong Founder for Cheating HSBC

By Nithya Subramanian | 13/05/2024

Lim Oon Kuin was convicted of cheating HSBC and abetting forgery. He will be sentenced in October.

Anti-Money Laundering

1MDB and Subsidiaries Sue Former PM’s Wife for $346mn

By Nithya Subramanian | 13/05/2024

The lawsuit alleged that funds from 1MDB and its subsidiaries were used by Najib Razak’s wife to purchase luxury goods.

Anti-Money Laundering

New Zealand DIA Issues Formal AML Warning to Lawyer

By Sanday Chongo Kabange | 13/05/2024

The lawyer failed to establish, implement and maintain an AML/CFT programme, conduct on-going CDD, and report transactions.

KYC & CDD

RBI Lifts Restrictions on Bank of Baroda Mobile App

By Ajoy K Das | 12/05/2024

The bank was barred from onboarding customers on its ‘BoB World’ app following misuse by employees.

Fraud, Scams & Cybercrime

Taiwan Progresses New Anti-Fraud Legislative Package

By Editors | 12/05/2024

The legislative extends fraud prevention obligations to VASPs, telecom companies, and internet advertising platforms, among others.

PEPs & Sanctions

Canada Imposes More Sanctions Over October Hamas Attacks

By Editors | 12/05/2024

The four sanctioned individuals were designated by the US in the weeks following Hamas’ attack on Israel.

PEPs & Sanctions

New Zealand Asked to Expand Myanmar Sanctions

By Editors | 11/05/2024

Company records show that New Zealanders have ties to mining companies which benefit the military junta.

Conduct, Culture & Accountability

AFCA, CSLR Set Out Arrangements for “Collaborative Relationship”

By Sanday Chongo Kabange | 10/05/2024

AFCA signed an MoU with CSLR Ltd, the authorised operator of the new Compensation Scheme of Last Resort.