ADVERTISEMENT
Fraud, Scams & Cybercrime
Chinese Police Arrest 234 Suspects for Henan Bank Fraud
By Editors | 31/08/2022
Authorities say they have made “significant progress” in recovering the stolen money and have also started repaying more victims of the fraud.
Anti-Money Laundering
AUSTRAC Orders AML Audit at The Perth Mint
By Manesh Samtani | 31/08/2022
Earlier reports suggest the audit could be related to Perth Mint’s previous relationship with Euro Pacific Bank, which was forced to close in Puerto Rico earlier this year.
Fraud, Scams & Cybercrime
HKMA Warns of Deposit Scams Being Used by Fraudsters
By Editors | 30/08/2022
Fraudsters claiming to be financial advisors are soliciting deposits in unknown foreign banks by promising high deposit rates.
Conduct, Culture & Accountability
UK Regulators Conclude Six-Year Probe Into HBOS Execs
By Manesh Samtani | 30/08/2022
No further action will be taken against former senior managers of HBOS, which collapsed in 2008 during the height of the 2008 global financial crisis.
Fraud, Scams & Cybercrime
Philippine Banks, Telecom Partner to Combat Cybercrime, Fraud
By Editors | 30/08/2022
BAP member banks and Globe Telecom will share data and intelligence to help counter cybercrime and fraud threats.
Market Abuse
Korean Regulators Start Short-selling Inspections at Foreign Firms
By Editors | 30/08/2022
The FSS has launched an inspection of Morgan Stanley’s short-selling practices. Similar inspections at BAML and Goldman Sachs will come next.
Anti-Money Laundering
Myanmar Warns Against Illegal Foreign Exchange Trading
By Mark Johnston | 29/08/2022
The central bank warned that serious action will be taken against online businesses that are found to be illegally buying and selling foreign currencies.
Anti-Money Laundering
Bangladesh Bank Intensifies Crackdown on Illegal FX Transactions
By Mark Johnston | 29/08/2022
Dozens of money changers are being investigated for money laundering. Several banks are accused of making “excessive” profits from dollar sales.
Fraud, Scams & Cybercrime
Addressing Fraud Risk Requires Multi-Pronged Approach – Report
By Editors | 29/08/2022
NICE Actimize and Regulation Asia have published a new white paper exploring the banking industry’s response to fraud and online scams in APAC.
KYC & CDD
HKMA Fines Commerzbank for CDD & PEP Screening Failures
By Editors | 29/08/2022
The HKMA found control lapses in onboarding due diligence as well as ineffective procedures for determining whether beneficial owners were PEPs.
JOIN OUR NEWSLETTER
An exclusive weekly selection of top stories from the Regulation Asia editorial team.