AML / KYC

Malaysian Central Bank to ‘Name and Shame’ Rulebreakers

09/10/2017

Bank Negara Malaysia governor says it has shared the names of more than 400 individuals with banks in the country over the past three months.

AML / KYC

Standard Chartered Guernsey-Singapore Transfers Under Investigation

09/10/2017

Authorities suggest bank may have conducted $1.4bn of transfers to Singapore to avoid being caught under Common Reporting Standard.

AML / KYC

Forensic Accountancy Programme Launched in Singapore to Combat Financial Crime

05/10/2017

Forensic accountancy qualification will be open to financial crime compliance and investigations professionals; ACRA to consider monitoring audit firms.

AML / KYC

China Raises AML Concerns About Non-financial Sectors

05/10/2017

PBOC will target areas including real estate intermediaries and jewelry sales, says will not disrupt ‘normal and legal’ cross-border transactions.

Enforcement

Malaysia Revising Prudential Framework for Outsourcing by Financial Institutions

04/10/2017

Banks will be urged to enhance due diligence and do more to protect data confidentiality as BNM cites risks from outsourcing to shared services.

Fintech / Regtech

Philippines Set to Introduce Tighter Cybersecurity Requirements for Banks

04/10/2017

Measures will include enhanced risk management and governance requirements as well as increased use of cloud technology.

Market Infrastructure

Vietnam to Increase Scrutiny of Electronic Trading for Security Loopholes

04/10/2017

Brokerages will be required to report more data, ensure their systems are transparent, fair, secure and compliant with national laws.

AML / KYC

Chinese Money Laundering or Capital Transfer – ‘Vive la Différence’

02/10/2017

Financial technology and digital payment systems are abetting the greatest money laundering campaign in the history of finance.

Fintech / Regtech

CPMI, IOSCO Call for Uniformity in UPI Creation, Reporting

02/10/2017

Report proposes that each UPI maps to reference data which indirectly describes an OTCD product without identifying transaction details.