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Financial Crime
Fraud, Scams & Cybercrime
FSS Korea to Restructure Virtual Asset Fraud Reporting Centre
By Manesh Samtani | 30/01/2024
Users can report unfair trades, not just frauds and scams. Reporting process, investigation support and coordination to also improve.
PEPs & Sanctions
US Sanctions Iraqi Bank for Enabling Iran-backed Terrorist Activity
By Editors | 29/01/2024
US Treasury cut off Al-Huda Bank from the US financial system and sanctioned its owner for serving as a conduit for terrorist financing.
Anti-Bribery & Corruption
Former China Development Bank President Gets 20 Year Jail Sentence
By Editors | 29/01/2024
He Xingxiang was found guilty of taking bribes, providing bank guarantees illegally, issuing loans illegally, and concealing offshore bank deposits.
Cybersecurity
BNM, CyberSecurity Malaysia to Tackle Cyber Risks in Financial System
By Ranamita Chakraborty | 29/01/2024
BNM partners CyberSecurity Malaysia for seamless information sharing, best practices exchange, and technical support to address emerging cyber risks.
Fraud, Scams & Cybercrime
Japan FSA Issues Orders to Insurance Major Over Fraud Scandal
By Editors | 29/01/2024
Sompo Japan Insurance is required to draw up an improvement plan including steps to change its corporate culture, enhance customer protection, and improve governance.
Anti-Money Laundering
Samlit Moneychanger Sued After China Police Freezes Funds: Report
By Nithya Subramanian | 29/01/2024
While three Chinese nationals working in Singapore alleged breach of agreements and sought compensation. Samlit said it fulfilled all its obligations.
PEPs & Sanctions
UK Warns of Sanctions Evasion Through Art Storage Sector
By Editors | 29/01/2024
Art market participants should have the ability to conduct regular due diligence checks and identify any change in a client’s circumstances or suspicious activity.
PEPs & Sanctions
Taiwan Machine-making Tools Still Ending Up in Russia – Reports
By Editors | 29/01/2024
While direct exports have stopped, Taiwanese machine-making tools have still been ending up in Russia via third countries, particularly China and Turkey.
Anti-Money Laundering
Japan FSA Proposes to Add Jurisdictions to Travel Rule
By Editors | 27/01/2024
Eight countries were added, including the UAE, India, Indonesia, the UK, Estonia, Nigeria, Bahrain, and Portugal.
PEPs & Sanctions
US, UK Announce Sanctions on Four Houthi Officials
By Editors | 26/01/2024
Four officials were sanctions for attacks on ships that “threaten to disrupt international supply chains and the freedom of navigation”.
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