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Fraud, Scams & Cybercrime
Chinese Police Arrest Five More Fuxing Execs on Fraud Charges
By Editors | 10/05/2019
Four deputy presidents and the head of one of Fuxing’s subsidiaries have been detained for illegal fundraising activities, following charges brought against the group’s chairman last July.
PEPs & Sanctions
Korean Banks Halt Won Settlement as Iran Sanctions Waiver Expires
By Editors | 09/05/2019
Woori Bank and Industrial Bank of Korea have stopped offering won settlement services that have to date allowed over 2,000 local companies to bypass Iran trade restrictions.
Operational Risk
Officials Installed at Chinese Securities Firm to Monitor Risks
By Editors | 08/05/2019
The CSRC has installed officials at a troubled securities firm, N-Securities, over concerns about excessive debt and inadequate risk management.
KYC & CDD
Chinese Banks Instructed to Further Limit Foreign Currency Withdrawals
By Editors | 07/05/2019
Chinese banks have reduced the amount of US dollars customers can withdraw and are required to keep a watch list of clients who make frequent foreign currency withdrawals.
Market Abuse
Temporary Relief to NSE Directors, Brokerages in Algo Case
By Editors | 07/05/2019
Three brokerages facing market bans had asked for a temporary stay to close out open futures and options positions.
Anti-Money Laundering
Malaysia Extradites Former Goldman Banker to US
By Editors | 07/05/2019
Extradited from Malaysia, the former Goldman Sachs banker Roger Ng has pleaded not guilty to 1MDB-related charges in the US, and has been released under house arrest.
Anti-Money Laundering
Philippine FIU Seeks an End to Bank Secrecy Law
By Editors | 07/05/2019
The AML Council is seeking additional powers to combat financial crime, including the lifting of the bank secrecy law, which would allow it to check all accounts regardless of transaction thresholds.
PEPs & Sanctions
US Judge Subpoenas Chinese Banks in Sanctions Probe – Report
By Editors | 07/05/2019
A US federal judge has ordered three Chinese banks to provide documents in relation to a Hong Kong company which allegedly helped North Korea evade international sanctions.
Cloud & Infrastructure
Technology Driven Changes Afoot in the Australian Banking Sector
By Garima Chitkara | 07/05/2019
Open banking, digital banking, cloud-based infrastructure and RegTech are the key drivers of technology-led change in the Australian banking sector, according to S&P Global Ratings.
Payments & Settlements
RBI Fines Multiple Payment Service Providers
By Editors | 06/05/2019
The RBI has fined prepaid payment instrument issuers, two US money transfer firms and Yes Bank for non-compliance with regulatory guidelines.
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