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Stablecoins
Terra Collapse Sparks Regulatory Change, Lawsuits in Korea
By Mark Johnston | 26/05/2022
The FSC says thirteen relevant bills on digital asset investor protection are currently pending at the National Assembly.
Market Abuse
Seoul Prosecutors Revive Specialised Financial Crime Team
By Editors | 24/05/2022
A joint investigations team that was disbanded in January 2020 has now been reinstated to respond to financial and securities crimes.
Fraud, Scams & Cybercrime
Singapore Police Warns of Banking-related Phishing Scams
By Editors | 24/05/2022
Phishing scams involving the impersonation of bank employees have increased from 149 cases in 2020 to 1,021 cases last year.
Anti-Money Laundering
US SEC Fines Wells Fargo Advisors $7m for AML Failures
By Editors | 24/05/2022
Wells Fargo Advisors was fined for failing to timely file 34 SARs. This is the second BSA action against the firm in the last five years.
Supervision & Enforcement
MAS Charges Two Insurance Agents for Falsifying Documents
By Editors | 23/05/2022
Two insurance agents of Prudential Assurance Company Singapore provided false information to MAS in relation to an investigation it was pursuing.
Fraud, Scams & Cybercrime
Crypto Firms Launch Scam Reporting Platform: Chainabuse
By Editors | 22/05/2022
Chainabuse is backed by TRM Labs, Solana Foundation, Circle, OpenSea, Binance, The Aave Companies, CIVIC, and Hedera.
Anti-Money Laundering
Fugitive Former Banker from Bangladesh Arrested in India
By Editors | 22/05/2022
PK Halder has been on the run since 2019 after allegedly defrauding multiple NBFIs in Bangladesh of more than $280,000.
Fraud, Scams & Cybercrime
Australia: FSC Calls for Measures to Stop Online Scam Ads
By Editors | 22/05/2022
The Financial Services Council is calling for the introduction of a mandatory code of conduct for digital platforms like Facebook and Google to prevent financial scams.
Fraud, Scams & Cybercrime
Korea: Shinhan Bank Discovers Embezzlement by Employee
By Editors | 22/05/2022
Days earlier a Woori Bank employee was arrested for embezzling KRW 61.4 billion between 2012 and 2018.
Fraud, Scams & Cybercrime
ASIC Cautions Against Purchasing ‘Fake Green Bonds’
By Editors | 21/05/2022
ASIC says retail investors who are approached to invest in green bonds should ask their banks for help to check the legitimacy of the offer.
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