Fraud, Scams & Cybercrime

Woori, Shinhan to Pay Compensation on Lime Asset Losses

07/06/2020

Woori and Shinhan will pay about 50% of principal invested in three suspended Lime funds, preemptively, while the FSS decides on a final compensation ratio.

Payments & Settlements

RBI Creates $66mn Fund to Boost E-Payments Infrastructure

07/06/2020

The RBI will initially contribute half of the funding; the rest will come from card-issuing banks and card networks, who will also cover operational expenses.

Anti-Money Laundering

Hong Kong ICAC Charges Four for Defrauding DBS Bank

07/06/2020

The individuals are charged for money laundering, bribery offences, and for using false documentation to defraud DBS into issuing letters of credit worth HK$75.3mn.

Market Abuse

S. Korean Prosecutors Seek Arrest of Samsung Execs for Illegal Trading

07/06/2020

Samsung’s de facto head, Lee Jae-yong, and two of his senior lieutenants could face charges of illegal trading and stock price manipulation, among other charges.

Anti-Money Laundering

US Seeks Extradition of Money Launderer Jailed in S. Korea

07/06/2020

A civil forfeiture complaint alleges that Kenneth Zong, a US citizen held in Korea, conspired with Iranian nationals in 2011 to launder $1bn through the UAE and other countries.

KYC & CDD

Addressing Heightened KYC Risk with Data and Automation

07/06/2020

Managing KYC risk assessment in a sea of increasingly complex data sets calls for smart automated solutions to manage alerts.

Structural Regulation

Thailand to Launch Digital Platform for Capital Markets Licensing

05/06/2020

The ‘Prof Link’ platform will include licence information for over 80,000 capital markets professionals, incorporating professional development and training.

Sustainable Finance

KRX to Waive Fees for Issuers of ESG Bonds – Report

04/06/2020

KRX will also launch a centralised platform where investors can obtain the investment information and disclosures of each bond, as it seeks to bolster ESG bond markets.

Clearing & Post-Trade

JPX, JASDEC Select Use Cases to Test in DLT Project

04/06/2020

DLT will be tested to share fund, SSI, and corporate information; enhance compatibility among fund distribution networks; share stock borrowing and lending information.