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Anti-Money Laundering
FATF Issues Report on Digital Tools for Law Enforcement
By Editors | 12/06/2022
The report offers guidance on the use of technology for investigations, risk assessment, and AML/CFT information exchange.
PEPs & Sanctions
OFAC Blocks Secondary Market Trading in Russian Debt, Equity
By Editors | 12/06/2022
To date, only the purchase of new issues has been prohibited, and trading in secondary markets has still been allowed.
Fraud, Scams & Cybercrime
BNM Directs Banks to Enhance Fraud Risk Controls
By Editors | 12/06/2022
BNM will take supervisory and enforcement actions against banks that fail to protect their customers from fraud risk.
Supervision & Enforcement
US Ruling Calls Into Question Key SEC Enforcement Mechanism
By Editors | 12/06/2022
The Fifth Circuit court ruled that the SEC’s use of in-house administrative law judges deprived the petitioners of the right to a jury trial.
Fraud, Scams & Cybercrime
Singapore Police Arrest Eight Involved in SMS Phishing Scams
By Editors | 10/06/2022
The scammers were arrested after more than SGD 60,000 was lost in SMS phishing scams targeting DBS customers.
Supervision & Enforcement
ASIC Sues Payday Lender Over ‘Prohibited’ Fees
By Editors | 09/06/2022
The case involves over 670,000 contracts entered into by Sunshine Loans that included an amendment or rescheduling fee that is not permitted.
Fraud, Scams & Cybercrime
Two Taiwan Banks Fined Over Misappropriated Customer Funds
By Editors | 09/06/2022
Mega Bank and Huanan Bank were each fined TWD 4 million fine for internal control failures which allowed cashiers to misappropriate customer funds.
Cryptocurrency
US SEC Reportedly Probing Binance 2017 Token Offering
By Editors | 09/06/2022
The SEC is also investigating market making companies owned by Binance’s CEO and whether company insiders may have engaged in trading abuses.
Market Abuse
Old Misconduct Patterns Are Repeating in New Settings: FMSB
By Editors | 08/06/2022
Forms of misconduct which have been present for hundreds of years are playing out in new digital asset classes, including crypto assets and NFTs.
Market Abuse
Australian Man Pleads Guilty to Pump and Dump Scheme
By Editors | 08/06/2022
The man, Gabriel Govinda, will be the first to be convicted in Australia over a social media pump-and-dump scheme.
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