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Anti-Bribery & Corruption
China to Step Up Corruption Crackdown in Capital Markets
By Editors | 19/04/2022
So far this year, nine financial officials were expelled from the CCP, with some facing other disciplinary punishments including criminal prosecution.
Trade Based Money Laundering
APAC Banks Need to Increase Vigilance to TBML Risks
By Editors | 19/04/2022
Panellists at a recent Regulation Asia webinar discussed the need for greater vigilance to TBML risks and how workflow enhancements can improve outcomes.
PEPs & Sanctions
US Treasury Sanctions Lazarus Entities Over ‘Ronin Bridge’ Hack
By Editors | 19/04/2022
OFAC has added a list of entities associated with Lazarus to its sanctions list, including a specific Ethereum wallet address associated with the attackers.
PEPs & Sanctions
CNOOC to Exit Western Markets Over Sanctions Risk, Red Tape
By Editors | 18/04/2022
“We cannot predict if the company or its affiliates and partners will be affected by US sanctions in future,” CNOOC said after reviewing its global portfolio ahead of a Shanghai IPO.
Fraud, Scams & Cybercrime
NY Court Acquits Two Philippine Casinos in Bangladesh Bank Case
By Editors | 18/04/2022
Bangladesh Bank says the court did not dismiss the entire case concerning its 2016 hack; only two of the 20 accused were acquitted due to “lack of jurisdiction”.
KYC & CDD
AIST Seeks Clarity on SoF, SoW Expectations for Super Funds
By Editors | 18/04/2022
AIST is asking AUSTRAC to recognise that super funds are presented with lower risks than other reporting entities, and to align its expectations for SoF and SoW checks accordingly.
Capital Adequacy
UK Regulators Warn Banks Against ‘Gaming the Rules’
By Editors | 18/04/2022
The warning is reportedly directed at Barclays, the only UK lender that used its pension scheme for capital arbitrage transactions in recent years.
Anti-Bribery & Corruption
FinCEN Issues Guidance on Detecting Foreign Public Corruption
By Editors | 17/04/2022
The advisory offers indicators to help FIs in preventing, detecting, and reporting suspicious transactions associated with kleptocracy and foreign public corruption.
Fraud, Scams & Cybercrime
SEBI Fines BSE, NSE for Failure to Detect Karvy Fraud
By Editors | 17/04/2022
Karvy Stock Broking misused INR 23 billion worth of securities belonging to more than 95,000 clients, pledging them with 8 banks to raise INR 8.5 billion for its own use.
Tokenisation
China: Industry Bodies Warn of NFT-related Financial Risks
By Editors | 17/04/2022
China’s internet finance, banking and securities associations have outlined six measures to curb “NFT financialisation and securitisation” and prevent NFT-related illegal activity.
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