Financial Crime

Anti-Bribery & Corruption

HK ICAC Charges Bank Employee and Two Others for Bribery

By Editors | 28/02/2022

A relationship manager and two representatives of secretarial services companies allegedly offered and accepted bribes to help non-domestic clients open accounts with three Hong Kong banks.

Fraud, Scams & Cybercrime

Taiwan Police, FIs to Establish Anti-Fraud Information Sharing Platform

By Editors | 28/02/2022

The National Police Agency and financial institutions will jointly establish a new platform that will allow real-time information exchange for use in combatting fraud.

Market Abuse

CSRC Asks Morgan Stanley to Provide Information on US Probe

By Editors | 28/02/2022

The CSRC has reportedly given Morgan Stanley 30 days to provide details about its role in a US investigation into its block trading practices.

Fraud, Scams & Cybercrime

BitConnect Founder Indicted for Running Crypto Ponzi Scheme

By Editors | 28/02/2022

BitConnect founder Satish Kumbhani and his co-conspirators obtained fraudulent gains from investors amounting to about USD 2.4 billion.

PEPs & Sanctions

Western Leaders Pledge to Remove Russian Banks from SWIFT

By Manesh Samtani | 28/02/2022

Western leaders have committed to removing “selected Russian banks” from the SWIFT financial messaging system to harm their ability to operate globally.

Market Abuse

US SEC Proposes New Rule to Increase Short Selling Transparency

By Editors | 28/02/2022

Institutional investment managers will have to report information relating to short positions to the SEC on a monthly basis. The data will be aggregated and made available to the public.

Anti-Money Laundering

BitMEX Founders Agree Settlement for US AML Violations

By Editors | 28/02/2022

Arthur Hayes and Benjamin Delo have pleaded guilty to breaching AML laws and agreed to pay a USD 10 million fine each.

Payments & Settlements

PBOC Allows Merchants to Continue Using Personal QR Codes

By Sanday Chongo Kabange | 27/02/2022

Rules issued last October were about to take effect that would have prohibited merchants from using personal QR codes to receive payments from 1 March.

Supervision & Enforcement

APRA Super Fund Performance Test Results in Mergers, Exits

By Editors | 27/02/2022

13 super funds failed APRA’s inaugural MySuper Product Performance Test last August. The worst performer, Maritime Super, is in talks to merge with industry fund Hostplus.