Financial Crime

Anti-Money Laundering

Five RCBC Bank Employees Charged with Money Laundering

By Editors | 25/05/2019

Five current and former bank employees have been charged with money laundering in the Philippines in connection with the 2016 Bangladesh Bank heist.

Market Abuse

CICC Bankers Reprimanded for Altering IPO Documents

By Editors | 24/05/2019

Two CICC bankers have been named and shamed for altering the IPO application documents of a company seeking a listing on Shanghai’s new tech board.

Market Abuse

Japan FSA to Issue Improvement Order Against Nomura

By Editors | 24/05/2019

The FSA will reportedly order Nomura Securities to strengthen controls and systems to prevent recurrence of a recent information leak.

KYC & CDD

Hong Kong, China Framework Comparison – KYC Standards

By Prasanna Venkatesan | 23/05/2019

Given the similarities between Hong Kong and China’s KYC frameworks, cross-border onboarding and account opening has become less of a challenge, say Synpulse’s Prasanna Venkatesan, Gregory Achache and Marina Mai.

Emerging Prudential Risks

RBI to Create New Unit to Strengthen Financial Sector Supervision

By Editors | 23/05/2019

The Reserve Bank of India has announced the establishment of a new unit to streamline its supervision and regulation of banks and financial companies.

Fraud, Scams & Cybercrime

Former DBS Hong Kong Sales Rep Jailed for Loan Fraud

By Editors | 22/05/2019

A former sales representative of DBS Bank in Hong Kong was last week sentenced to 14 months’ imprisonment for defrauding the bank of loans and commissions.

Anti-Money Laundering

Bangladesh FIs Report Suspicious Activity at Record Levels

By Editors | 21/05/2019

The increase in suspicious activity reported is an indication of the financial industry’s commitment to fighting money laundering and terrorism financing.

Anti-Bribery & Corruption

Ex-JP Morgan Managing Director Charged with Bribery

By Editors | 20/05/2019

A former JP Morgan Securities managing director offered to employ the son of a potential client as a reward for “showing favour” in hiring the bank for IPO sponsor work.

Anti-Bribery & Corruption

UPDATED – Former CSRC Chief Under Investigation in Corruption Probe

By Editors | 20/05/2019

Liu Shiyu, the former head of the CSRC who was replaced in January, is now under investigation in a corruption probe.