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Fraud, Scams & Cybercrime
Korea to Launch Investigation Team to Combat Voice Phishing
By Editors | 30/06/2022
The plan was announced in response to the death of a small business owner who committed suicide after he was scammed out of more than KRW 160 million.
Anti-Bribery & Corruption
China: More Top Officials Get Roped into Corruption Crackdown
By Editors | 30/06/2022
Several PBOC and CBIRC officials have been named in corruption investigations. A former ICBC executive has pleaded guilty on bribery charges.
PEPs & Sanctions
G7 Nations Announce Ban on Russian Gold Imports
By Manesh Samtani | 30/06/2022
The ban has so far been announced by US, UK, Japan, and Canada, while discussions within the EU are still ongoing.
Anti-Money Laundering
Woori Bank, Crypto Exchange Under Probe for Money Laundering
By Editors | 29/06/2022
This is the first time that a Korean virtual asset exchange and a bank have been used as channels for money laundering, an official said.
Anti-Money Laundering
Swiss Criminal Court Convicts Credit Suisse for Money Laundering
By Editors | 29/06/2022
The court said Credit Suisse ignored obvious red flags and did not do enough to prevent a crime syndicate from profiting from cocaine trafficking.
Tokenisation
Malaysia Unveils Strategic Roadmap to Develop Labuan IBFC
By Editors | 28/06/2022
The roadmap includes plans to develop regulatory requirements for digital assets, the tokenisation of non-securities, and dealings on digital exchange platforms.
Cryptocurrency
Shenzhen Authorities Issue Warning Against Crypto Speculation
By Editors | 28/06/2022
Domestic staff of overseas crypto exchanges and others engaging in crypto-related business will be investigated.
PEPs & Sanctions
Sanctions Force Russian Sovereign Debt Default
By Editors | 28/06/2022
Russia made USD 100 million in payments due on 27 May to Euroclear, but the funds were not delivered to investors due to sanctions.
Conduct, Culture & Accountability
SFC Fines CES Capital for Fund Management Failures
By Editors | 28/06/2022
CES Capital International failed to perform sufficient due diligence and monitoring of the underlying investments of two funds.
Anti-Money Laundering
AUSTRAC Updates Guidance on Reporting Cash Transactions
By Editors | 28/06/2022
When a customer makes multiple cash transactions of A$10,000 or more, each individual transaction is considered a separate and distinct designated service.
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