cheating - Regulation Asia

CBIRC 2020 Penalties Show Emphasis on Personal Accountability

The CBIRC issued $350mn in fines against 3,178 banks and insurance firms in 2020. The number of individuals punished rose by about 30% from 2019.

May 22, 2021

169

Enforcement

SG Police Issue Cheating Charges in Nickel Trading Fraud Case

With the latest charges, Ng Yu Zhi now faces a total of 18 counts of cheating, fraudulent trading and forgery. He will return to court on 28 June.

May 18, 2021

73

Enforcement

Singapore Court Sentences Former Banker to Seven Years’ Jail

The former UOB and OCBC banker promoted fictitious deposit and investment products to customers and then misappropriated the funds.

May 13, 2021

67

Enforcement

MAS Issues 10-Year Ban Against Individual for Dishonest Conduct

The individual carried out fund management activities without holding a capital markets services licence, and later convicted of cheating and imprisoned.

May 10, 2021

158

Enforcement

Singapore Court Jails Former CFO for Loan Fraud

The former CFO of Coastal Oil Singapore conspired with three colleagues to deceive 8 banks into disbursing over $300mn in loans.

May 5, 2021

157

Enforcement

SG Police Lays 23 Forgery Charges Against Hin Leong Founder

Lim Oon Kuin now faces a total of 25 charges - 14 counts of abetment of forgery for the purpose of cheating, and 11 counts of abetment of forgery simpliciter.

May 3, 2021

147

Enforcement

SG Police Issue Forgery Charges in Nickel Trading Fraud Case

With the latest charges, Ng Yu Zhi now faces a total of 11 counts of cheating, fraudulent trading and forgery. He will return to court on 17 May.

April 30, 2021

228

Enforcement

SG Police Lay More Charges in Nickel Trading Fraud Case

Ng Yu Zhi allegedly cheated five individuals into paying around S$8.8mn for nonexistent forward contracts purported to be for the sale of nickel to a metals trader.

April 26, 2021

114

AML / KYC