Financial Crime

Market Abuse

China’s Didi Required to Face Investor Lawsuit Over 2021 IPO

By Editors | 19/03/2024

Besides allowing the investor lawsuit to proceed against Didi, the US court also refused to dismiss claims against banks that helped the company go public.

Fraud, Scams & Cybercrime

US DOJ Proposes 50 Year Prison Term for FTX Founder

By Mark Johnston | 19/03/2024

Prosecutors proposed a 40-50 year prison term, $11bn fine and forfeiture for Sam Bankman-Fried, who faces sentencing on 28 March.

Credit Risk

RBI Tightens Scrutiny of High-Risk Lending Models

By Ajoy K Das | 19/03/2024

The RBI is scrutinising mortgage top-up loans, algorithm based credit models, and co-lending arrangements.

Cryptocurrency

FSS Korea Issues 2024 Virtual Asset Supervision Workplan

By Manesh Samtani | 19/03/2024

The supervision work plan includes measures to support regulatory compliance by VASPs ahead of the Virtual Asset Users Protection Act coming into force on 19 July 2024.

Anti-Money Laundering

EU Commission Revises List of High Risk Third Countries

By Nithya Subramanian | 19/03/2024

Barbados, Gibraltar, Panama, Uganda and UAE have been removed from the list, while Kenya and Namibia were added.

PEPs & Sanctions

Microsoft, Amazon Suspend Russian Access to Cloud Products

By Editors | 18/03/2024

The move is a response to the EU’s 12th package of Russia sanctions, which prohibits companies from supplying enterprise or design software to companies in Russia.

Anti-Money Laundering

China: Police Take “Criminal Coercive Measures” Against Zhongzhi Execs

By Mark Johnston | 18/03/2024

A criminal probe against Zhonzhi  was launched in November 2023 after the company, which controls several asset and wealth management firms, said it was “severely insolvent”.

Anti-Money Laundering

Japan to Offer Investment Visas to Venture Capitalists – Report

By Editors | 18/03/2024

A new five-year residency visa will reportedly be available to angel investors and venture capitalists in the next few months.

Supervision & Enforcement

True Cost of Financial Crime Compliance Study – APAC

By | 18/03/2024

[Partner Content] – Explore APAC financial crime compliance costs in our survey covering Australia, China, India, Japan, and Singapore. Projections indicate total costs nearing $45B in 2023.