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Anti-Money Laundering
Pakistan to Pass Two New Laws to Meet FATF Action Plan
By Sanday Chongo Kabange | 15/05/2021
The laws cover the handling of forfeited properties and assets, and the transfer of money laundering cases to specialised agencies.
PEPs & Sanctions
Prospects of Western–Japanese Coordination on Human Rights Sanctions
By Sasha Erskine | 15/05/2021
Japan will set itself apart as an active sanctioning partner in Asia and further boost the global effort to combat human rights violations, writes RUSI’s Sasha Erskine.
Market Abuse
Korea: New Rules for Chinese Walls to Take Effect from 20 May
By Editors | 14/05/2021
Financial investment businesses are required to establish internal control standards to prevent information sharing of material nonpublic information between units.
Market Abuse
Hong Kong: Six Current & Former Directors Fined Over Inside Information
By Editors | 14/05/2021
Timely disclosure of inside information is central to the orderly operation of the market and underpins a fair and informed market, the SFC said.
Anti-Money Laundering
Taiwan FSC Fines Citibank, DBS for AML Violations
By Editors | 14/05/2021
The regulator cited failures related to customer due diligence, review mechanisms, transaction monitoring, risk assessment, and investigations.
Anti-Bribery & Corruption
Singapore: Former BP Director Jailed on Corruption Charges
By Editors | 14/05/2021
The former regional director was also ordered to pay a penalty of SGD 6.2 million and faces additional money laundering charges.
Conduct, Culture & Accountability
Taiwan FSC to Launch Inspections at FIs to Assess Sales Practices
By Editors | 13/05/2021
The FSC will conduct inspections at 10 banks, 6 credit unions, 6 insurers and 3 securities firms to check whether they have sold high-risk products to seniors.
Fraud, Scams & Cybercrime
UOB Customer Data Gets Leaked In Impersonation Scam
By Editors | 13/05/2021
Scammers obtained personal information of over 1,000 of UOB’s Chinese customers with Singapore accounts by deceiving a bank employee.
Anti-Money Laundering
Philippine SEC Rates Securities Sector for Money Laundering
By Sanday Chongo Kabange | 12/05/2021
The SEC found that investment houses and underwriters presented ‘medium-high’ risk, compared to ‘medium’ risk for the securities sector overall.
Fraud, Scams & Cybercrime
Singapore Court Sentences Former Banker to Seven Years’ Jail
By Editors | 12/05/2021
The former UOB and OCBC banker promoted fictitious deposit and investment products to customers and then misappropriated the funds.
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