Financial Crime

Anti-Money Laundering

India Blocks Nine Crypto Exchanges for Failure to Register

By Ajoy K Das | 29/12/2023

Binance, Kucoin and Huobi are among the platforms that have been blocked in India for not registering as reporting entities.

Anti-Money Laundering

China Call for Crackdown on Foreign Exchange Crimes

By Editors | 29/12/2023

The use of cryptocurrencies as a tool for foreign exchange trading is illegal in China, authorities said.

Anti-Bribery & Corruption

Former PBOC Official Sentenced to Over 16 Years Jail for Corruption

By Editors | 29/12/2023

The former head of the PBOC’s monetary policy department helped others obtain confidential information in return for illicit payments worth CNY 21 million.

Market Abuse

Shanghai Court Settles China’s First Securities Class Action Lawsuit

By Editors | 28/12/2023

The court ordered Essence Information Technology to pay more than CNY 280 million to a total 7,195 investors.

Trade Based Money Laundering

Four Arrested in HK for Diamond-based Money Laundering Scheme

By Manesh Samtani | 28/12/2023

Hong Kong companies traded synthetic diamonds with a company in India but declared them as natural diamonds as a way to launder money.

PEPs & Sanctions

Taiwan Expands Export Controls to Prevent Russian Use of High-Tech Goods

By Editors | 28/12/2023

Taiwan is expanding its export controls to take into account items found on the battlefield in Ukraine by international allies.

PEPs & Sanctions

S. Korea Imposes Sanctions Against Eight North Koreans

By Editors | 28/12/2023

South Korea said the eight individuals generated income to support North Korea’s nuclear and missile programmes, including through illegal cyber activities.

Anti-Money Laundering

UK Proposes Measures to Improve Transparency of Land Trusts

By Mark Johnston | 28/12/2023

The UK government seeks feedback on options for improving transparency of land ownership involving trusts.

Fraud, Scams & Cybercrime

Korean Banks Set to Start Compensating Customers for Fraud Losses

By Manesh Samtani | 28/12/2023

From 1 January 2024, customers who suffer losses from unauthorised electronic financial transactions will be able to seek compensation from banks.