Enforcement

Enforcement

Singapore Police Charges Ex-UOB Banker Over Data Disclosure

By Editors | 25/08/2021

The ex-UOB employee accessed customer data from banking systems and disclosed the information to a scammer purporting to represent the Shanghai Police.

Enforcement

FMA Identifies AML Breaches by Investment Platform Sharesies

By Editors | 23/08/2021

The FMA has ordered Sharesies to amend its onboarding process and implement a process to complete identity verification at onboarding.

Market Infrastructure

FSS Korea Launches Probe into Electronic Payment Providers

By Manesh Samtani | 20/08/2021

The probe is a response to a growing scandal involving a local gift card provider, which offered users of its app large discounts and then changed its terms.

Enforcement

Australian Court Issues Fines in First Criminal Case of Bad Audits

By Sanday Chongo Kabange | 19/08/2021

EC Audit and its former director Robert James Evett have been convicted and sentenced to pay fines for failing to follow auditing standards.

AML / KYC

CCDI Reveals Details of Corruption in China’s Rural Credit System

By Sanday Chongo Kabange | 19/08/2021

Two of the most prominent and well-documented corruption cases disclosed by the CCDI were found at rural credit unions in Anhui and Yunnan.

AML / KYC

Singapore Court Jails Key Members of SkillsFuture Scam

By Ranamita Chakraborty | 17/08/2021

A husband and wife were jailed for 17 and 14 years respectively after pleading guilty to cheating, forgery and money laundering offences.

Enforcement

ASIC Prosecutes 124 Individuals for Failing to Cooperate with Liquidators

By Editors | 17/08/2021

Company officers failed to provide registered liquidators access to the company’s books and submit reports on company activities and property.

Enforcement

Court Orders CBA to Publicise Overcharging Misconduct

By Sanday Chongo Kabange | 17/08/2021

The Federal Court has ordered CBA to publish notices on its website and its newsroom platform under the heading “Notification of Misconduct by CBA”.

Enforcement

SAC Punishes 19 Institutional Investors Over IPO Pricing Violations

By Editors | 16/08/2021

The Securities Association of China and Shanghai Stock Exchange found violations of price-setting rules and procedures for STAR Market IPOs.