Financial Crime

Anti-Money Laundering

MAS Offers New AML/CFT Guidance for VASPs

By Editors | 28/03/2021

MAS has identified several VASPs that have not come forward for licensing despite operating in Singapore or soliciting business from Singapore residents.

Fraud, Scams & Cybercrime

ASIC Notches Win in Proceedings Against Mayfair 101 Group

By Ranamita Chakraborty | 28/03/2021

ASIC warns it will take action when search engines are used in a misleading or deceptive way to entice investors into products they are not searching for.

PEPs & Sanctions

US Sanctions Holding Companies Backing Myanmar Military

By Editors | 26/03/2021

The new sanctions target the Myanmar military’s control of significant segments of the country’s economy, which is a vital financial lifeline for the military junta.

Supervision & Enforcement

Compliance Costs Impacted by Technology, Covid: Report

By Sanday Chongo Kabange | 25/03/2021

Firms across APAC that allocate a higher percentage of compliance spend to technology have comparatively lower overall compliance cost.

Market Abuse

CSRC Issues Revised Disclosure Rules for Listed Companies

By Editors | 25/03/2021

The new rules introduce additional safeguards against insider trading and improve the timing of disclosure of major events.

Anti-Money Laundering

First North Korean Set to Face US Money Laundering Charges

By Manesh Samtani | 24/03/2021

Extradited to the US two years after his arrest in Malaysia, the North Korean national will face charges for money laundering, evading sanctions, and defrauding banks.

Market Abuse

CFTC Penalises Coinbase for False Reporting, Wash Trading

By Editors | 23/03/2021

The settlement requires Coinbase to pay $6.5mn, and desist from any further violations of the Commodity Exchange Act or CFTC regulations.

KYC & CDD

Australian Treasury Consults on New Director ID Regime

By Ranamita Chakraborty | 23/03/2021

The director ID regime will help to promote good corporate conduct, deter illegal phoenix activities, and facilitate traceability of directors over time.

PEPs & Sanctions

Beijing Financial Court Created to Counter US Long Arm Jurisdiction

By Sanday Chongo Kabange | 23/03/2021

The extraterritorial application of China’s financial laws will play a bigger role in opening up the domestic market, the Supreme People’s Court said.