Two Taiwan banks fined for breaching anti-money laundering laws
The Financial Supervisory Commission (FSC) yesterday fined Citibank Taiwan Ltd (花旗台灣) NT$10 million (US$357,194) and DBS Bank Taiwan (星展台灣) NT$6 million for breaches of the nation’s anti-money laundering (AML) regulations.
The NT$10 million fine is the highest penalty that it...
Sydney casinos move to cashless gaming operations to fight money laundering
Sydney's only two casinos will make their gaming operations cashless in a bid to stamp out money laundering.
Regulators said The Star and Crown Sydney, which is yet to be opened, agreed to the unusual move on Thursday.
It comes after...
India’s anti-graft agency files money laundering case against ex-home minister Anil Deshmukh
The Enforcement Directorate (ED) on Tuesday registered a case of money laundering against former Maharashtra home minister Anil Deshmukh. The case, under the Prevention of Money Laundering Act (PMLA), was registered on the basis of an FIR filed by the Central...
Former BP oil executive gets 54 months prison in Singapore bribery scheme
A former director of BP Singapore was jailed for 54 months and ordered to pay a penalty of about S$6.22 million on Tuesday (May 11) for taking bribes.
Clarence Chang Peng Hong had suggested that Koh Seng Lee set up...
Malaysia’s 1MDB sues Deutsche Bank, JP Morgan, Coutts to recover $23 billion lost in corruption scandal
Malaysia's now-defunct 1MDB state fund is suing units of Deutsche Bank (DBKGn.DE), J.P. Morgan (JPM.N) and Coutts & Co to recover billions in alleged losses from a corruption scandal at the fund, court documents seen by Reuters showed.
1MDB is claiming $1.11 billion...
South Korea’s ex-prosecutor jailed for taking bribes linked to Lime Asset Management fraud scandal
A former senior prosecutor was sentenced to three years in prison Friday for taking bribes in connection with a financial fraud scandal involving Lime Asset Management.
The Seoul Southern District Court convicted Yun Gap-geun, former chief of the Daegu High...
Qatar arrests finance minister over corruption allegations
Qatar’s finance minister was being questioned over alleged abuse of power and misuse of public funds in the energy-rich state after the attorney general ordered him arrested, state-run media reported Thursday.
The detention of Ali Sharif al-Emadi is a rare...
Australia’s securities regulator probes Westpac on allegations of insider trading
Australia’s securities regulator is probing Westpac Banking Corp. on allegations of insider trading, just months after the country’s second-biggest lender paid a record fine to settle breaches of anti-money laundering laws.
The allegations relate to Westpac’s role in executing a A$12 billion...
Venezuelan government releases American oil executives to house arrest
The Venezuelan government released a group of American refinery executives from prison to house arrest in Caracas on Friday, in a possible sign that President Nicolás Maduro would like to improve relations with the Biden administration.
The six executives of...
U.S., UK imposed sanctions on Guatemala’s congress member in corruption crackdown
The United States and United Kingdom on Monday both imposed sanctions on a member of Guatemala's Congress over alleged corruption, as Washington presses a number of Central American governments to crack down on graft.
The U.S. sanctions were announced hours...