Financial Crime

Anti-Bribery & Corruption

Ex-China Development Bank Chairman Arrested for Bribes

By Editors | 14/02/2020

Hu Huaibang is said to have used his position to help CEFC China Energy and HNA Group obtain billions of dollars in credit that fuel their expansions.

PEPs & Sanctions

OFAC Quietly Blocks Payments with Indirect Links to North Korea – Report

By Editors | 14/02/2020

In private communications with banks, OFAC has been blocking usually-permissible payments with any overseas account that officials believe separately handled funds for North Korea.

Fraud, Scams & Cybercrime

Nissan Seeks Damages from Former Chairman Carlos Ghosn

By Editors | 14/02/2020

The lawsuit seeks $90mn initially, seeking to recover funds linked to fraudulent payments, as well as legal, regulatory and investigation costs already incurred by Nissan.

Anti-Bribery & Corruption

Malaysia Anti-Corruption Commission Files New 1MDB-related Charges

By Editors | 13/02/2020

Malaysia has filed new charges against fugitive financier Jho Low and two PetroSaudi International directors over their alleged roles in the 1MDB scandal.

Market Abuse

BSP Bars Bank Affiliates from Holding Bank-Issued Debt

By Editors | 12/02/2020

The prohibition is aimed at preventing related parties from obtaining undue advantage when transacting in debt instruments issued by affiliated banks.

Trading & Investment

SGX RegCo Enhances Market Surveillance with Artificial Intelligence

By Editors | 12/02/2020

The introduction of AI will help isolate unusual activity by learning from historical trading patterns and filtering out noise.

Fraud, Scams & Cybercrime

US Charges 4 Chinese Military Officers for Equifax Hack

By Editors | 12/02/2020

The four Chinese nationals are charged for breaking into Equifax’s computer systems to steal US citizens’ personal data and sensitive trade secrets.

Conduct, Culture & Accountability

Advice Remediation at Six Biggest FIs Reaches A$750m: ASIC

By Editors | 12/02/2020

NAB has paid over A$203mn to over 588,000 customers as compensation for non-compliant advice and fees-for-no-service misconduct.

KYC & CDD

Technology Building Blocks that Enable Real-Time KYC

By Greg Watson | 11/02/2020

Every financial institution has a digital transformation agenda. But what does that really mean? In this post, we look at the why, and more importantly, the how of pursuing a Digital KYC model.