Financial Crime

Supervision & Enforcement

CSRC Issues New Rules for Settling Capital Market Violations

By Sanday Chongo Kabange | 08/12/2021

The new rules will enable parties suspected of engaging in illegal acts to pay administrative settlements rather than wait for investigations to be concluded.

Anti-Money Laundering

NZ FMA Risk Assessment Finds VASPs Sector ‘High Risk’

By Sanday Chongo Kabange | 07/12/2021

The FMA’s sector risk assessment for 2021 says VASPs, derivatives issuers and online investment platforms could be targeted by money launderers.

DeFi & Web3

DeFi Governance Structures Provide Entry Points for Regulators: BIS

By Manesh Samtani | 07/12/2021

DeFi’s inherent governance structures would provide “natural entry points” for authorities to address issues related to financial stability, investor protection and illicit activities.

Anti-Money Laundering

CBSL to Prosecute Remittances via Informal Channels Under AML Law

By Duruthu E Chandrasekera | 07/12/2021

Foreign workers have been using Hawala channels for remittances, as they offer better rates than formal banking channels.

Fraud, Scams & Cybercrime

Hong Kong SFC Imposes Lifetime Ban on Former Licensee

By Editors | 06/12/2021

The former licensee offered to invest for two students he taught, and then misappropriated their funds for his personal use.

Anti-Bribery & Corruption

HK Court Acquits Former HKEX Official in Bribery Case

By Editors | 06/12/2021

The court ruled that the prosecution did not prove that IPO consultant Richard Lum had bribed the former joint-head of HKEX’s IPO vetting team, Eugene Yeoh.

Custody & Infrastructure

Thai SEC to Require Crypto Wallet Providers to be Licensed

By Editors | 06/12/2021

Custody and wallet providers required to obtain information identifying the account owners of wallets. New guidelines coming on the use of crypto in payments.

PEPs & Sanctions

Australian Parliament Approves Magnitsky-style Sanctions Law

By Manesh Samtani | 05/12/2021

The legislation will allow Australia to address gross human rights violations, serious corruption, malicious cyber activity, among other themes.

Conduct, Culture & Accountability

Hong Kong FRC Launches New Whistleblowing Policy

By Editors | 05/12/2021

Protecting whistleblowers’ identities will be the FRC’s highest priority. It will not share any personal information to outside parties unless it is “legally obliged to do so”.