Enforcement

Enforcement

Hong Kong ICAC Charges Five More Individuals in Convoy Case

By Editors | 23/07/2019

Six individuals are now charged with conspiracy to defraud the Hong Kong stock exchange and the board of directors, shareholders and investors of Convoy.

Enforcement

China Bank Branch Head Commits Suicide Amid Corruption Probe

By Editors | 22/07/2019

China Development Bank’s Shandong branch head, Zhong Xiaolong, was reportedly being probed in connection with illegal loan guarantees made by the bank’s Jilin branch, where he was a former deputy head.

AML / KYC

Whistleblowers Allege SCB Cleared $57bn in Iran Transactions

By Editors | 22/07/2019

Whistleblowers reportedly claim that Standard Chartered Bank cleared more transactions in violation of Iran sanctions than the US government had used as its basis for fines issued in April.

Enforcement

HKMA Delegated Powers to Inspect Banks’ Insurance Business

By Editors | 22/07/2019

The Insurance Authority is delegating inspection and investigation powers to the HKMA in relation to insurance related business conducted by authorised institutions.

Enforcement

S. Korea Forms Special Unit to Investigate Unfair Trading

By Editors | 18/07/2019

The squad comprises 16 special judicial police officers, one FSC public official and 15 FSS employees, tasked with handling unfair trading cases under the command of Seoul prosecutors.

Capital / Liquidity

Allahabad Bank Reports $258mn Fraud by Indian Steelmaker

By Editors | 17/07/2019

Following a similar report from Punjab National Bank earlier this month, Allahabad Bank has reported a $258mn fraud at Bhushan Power & Steel.

Enforcement

Over 35,000 Complaints Received in Six Months: AFCA

By Editors | 17/07/2019

Over 60% of the complaints have been resolved, resulting in A$83mn in settlements. More than one-third of complaints were directed at banks.

Enforcement

Singapore Loansharking Raids Result in 129 Arrests

By Editors | 17/07/2019

Two suspects are believed to have directly carried out unlicensed moneylending, while 94 provided them access to bank accounts to facilitate their activities.

Enforcement

ICBC Graft Probe Linked to Ex-CSRC Chief Liu Shiyu – Report

By Editors | 17/07/2019

Chinese investigators are said to be targeting Liu’s affiliates for suspicious dealings involving investments in high yield wealth management products provided by ICBC Shanghai.