Financial Crime

Anti-Money Laundering

FATF Removes Switzerland from Enhanced Follow-Up

By Manesh Samtani | 24/10/2023

The FATF upgraded Switzerland’s ratings on two recommendations in response to law reforms that took effect at the beginning of 2023.

Cryptocurrency

SG Court Allows Attaching of Tokenised Freeze Order to Crypto Wallets

By Editors | 24/10/2023

A court-issued freeze order was tokenised as NFTs and attached to wallets linked to a crypto hack.

Market Abuse

FSS Korea on Recruitment Drive to Enhance Inspections

By Sanday Chongo Kabange | 24/10/2023

The FSS is hiring 25 lawyers and accountants from financial firms to bolster its inspections and curb unfair practices.

Anti-Money Laundering

FATF Upgrades Japan Ratings on Five Recommendations

By Manesh Samtani | 24/10/2023

Japan was re-rated from partially compliant to largely compliant on four recommendations and from non compliant to partially compliant on one recommendation.

Anti-Bribery & Corruption

China: Former Stock Exchange Official Facing Bribery Prosecution

By Editors | 24/10/2023

Authorities said the former deputy general manager “still did not restrain himself” after the 19th and 20th National Congress, despite the high-pressure anti-corruption campaign.

Market Abuse

Top Kakao Executive Arrested on Stock Manipulation Charges

By Editors | 24/10/2023

The investigation into Kakao and its top executives began in February. The company’s CIO was arrested due to concerns that he may flee or tamper with evidence.

Emerging Prudential Risks

China Issues Framework for Identifying Systemically Important Insurers

By Editors | 23/10/2023

Chinese insurance companies will be assessed every two years and designated systemically important based on 13 evaluation indicators.

Anti-Money Laundering

Egmont Group Suspends Membership of Russian FIU

By Editors | 23/10/2023

The move bars Rosfinmonitoring from using Egmont Group’s platform to share information with other FIUs and from playing any other role in the organisation.

PEPs & Sanctions

China Imposes Exports Controls on Graphite Products

By Editors | 23/10/2023

China dominates global supply chains for graphite, a key material used in electric vehicle batteries.