All posts tagged "fraud"
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414EnforcementFormer DBS Hong Kong Sales Rep Jailed for Loan Fraud
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.
May 22, 2019 -
394ChinaChinese Police Arrest Five More Fuxing Execs on Fraud Charges
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.
May 10, 2019 -
356AML / KYCMalaysia Extradites Former Goldman Banker to US
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.
May 7, 2019 -
429Market InfrastructureMAS Issues Update to E-Payments User Protection Guidelines
The update addresses situations where customers choose to receive fewer transaction notifications, which could affect their ability to monitor for unauthorised transactions.
April 26, 2019 -
598AML / KYCOCBC Received Police Award for Foiling Fraud Attempt
OCBC was able to recover $205,000 from a Malaysian bank after a transaction was flagged by its fraud surveillance unit as not fitting the client's usual patterns.
April 15, 2019 -
1.4KAML / KYCSWIFT Details Critical Factors for Effective Cyber Defence
Asian banks must accept they are more susceptible as the initial target for fraudulent payments, as well as the receivers, with over 83 per cent of cases based in the region.
April 12, 2019 -
677Enforcement
MAS Bans Former HSBC, UOB Employees for ‘Egregious’ Misconduct
Three individuals have received lengthy bans, in addition to jail terms, for "criminal conduct at the expense of their customers".
April 11, 2019 -
443EnforcementIndia’s PNB Fined for Non-Compliance with SWIFT Norms
The fine is significant because it was at Punjab National Bank where the $1.8b fraud occurred that prompted the RBI's order for banks to link their core systems with SWIFT.
March 27, 2019 -
325EnforcementSEBI Seeks Broader Powers to Pursue Securities Law Violations
SEBI wants to be able to inspect the books of listed companies when it suspects any securities law violations, and to impose penalties for the manipulation of a company’s accounts.
March 25, 2019 -
687AML / KYCBCBS Sets Out Minimum Expectations for Banks Exposed to Crypto
The minimum prudential expectations for banks exposed to crypto-assets relate to due diligence, governance and risk management, public disclosure and supervisory dialogue.
March 18, 2019
