Financial Crime

Anti-Bribery & Corruption

Korea to Boost Transparency of Crypto Holdings by Officials

By Editors | 28/12/2023

Members of the public will soon be able to access information on public officials’ crypto holdings via an electronic system.

Structural Regulation

RBI Proposes to Introduce New Category of Money Changers

By Ajoy K Das | 28/12/2023

The RBI proposes to allow businesses to deal in foreign exchange through an agency model by becoming forex correspondents of authorised dealer banks.

Supervision & Enforcement

SFC Suspends Former Licensed Rep Over Misuse of Client Account

By Editors | 28/12/2023

The former AE carried out personal trades in a client’s securities account and allowed a third party to operate the account without the client’s written authorisation.

Anti-Money Laundering

Chinese Authorities Dismantle $2.2b Underground Banking Operation

By Editors | 27/12/2023

The operation involved the use of overseas crypto platforms to exchange foreign currency. 74 suspects were arrested and their electronic devices and bank cards seized.

Market Abuse

China Launches Probe into CDB for Suspected Price Manipulation

By Editors | 27/12/2023

NAFMII said it has information indicating China Development Bank improperly influenced market prices in its bond issuance and money market businesses.

Market Abuse

FSA Japan Issues Orders Against Major Insurers for Price-Fixing

By Editors | 27/12/2023

The insurers coordinated with each other when negotiating contracts with corporate customers on insurance premiums, affecting more than 570 policyholders.

Fraud, Scams & Cybercrime

Wirecard Investors File Lawsuit Against EY in Munich

By Nithya Subramanian | 27/12/2023

The group of investors alleged that EY did not ensure accuracy of accounts and claimed EURO 700 million as damages.

KYC & CDD

“No Threshold” Approach Way Forward for Beneficial Ownership Frameworks

By Ranamita Chakraborty | 27/12/2023

Experts recommend proper legal frameworks, comprehensive verification processes, and international cooperation, to improve the effectiveness of beneficial ownership systems.

PEPs & Sanctions

China Sanctions Data Provider Kharon and Two Employees in Response to US Sanctions

By Editors | 26/12/2023

China’s Ministry of Foreign Affairs announced sanctions against US-based Kharon and two researchers under the Anti-Foreign Sanctions Law in response to US human rights sanctions.