Credit Risk

Taiwan Considers Measures to Facilitate Loans to First Home Buyers

08/09/2024

The FSC is considering excluding loans to first-home buyers, urban renewal projects and related construction work from bank lending limits.

Fraud, Scams & Cybercrime

Korea Forms Task Force to Enhance Bank Lending Standards

08/09/2024

The FSS plans to require verification of loan documents, improve the process for verifying collateral value, and enhance post-loan monitoring standards.

PEPs & Sanctions

DOJ Charges Russian TV Presenter With Violating US Sanctions

08/09/2024

The television presenter and producer for Russia’s state-owned Channel One, along with his wife, were charged for sanctions violations and money laundering.

PEPs & Sanctions

Russian Business With India is ‘Booming’, Says Sberbank Exec – Report

06/09/2024

Sberbank executive said Russia is able to import anything it needs from India, with most transactions only taking a few hours to complete.

Credit Risk

Korea to Ease Entry Rules for Corporate Credit Rating Industry

06/09/2024

The FSC is abolishing the requirement for FIs to hold at least a 50% stake in companies for them to provide corporate credit ratings.

Supervision & Enforcement

German Court Orders Former Wirecard Execs to Pay Damages

06/09/2024

The court found that three executives should be held personally liable for granting €100mn in loans without due diligence or collateral.

Anti-Money Laundering

AUSTRAC Issues New Guidance on Outsourcing AML Functions

06/09/2024

Among other things, the guidance covers due diligence of service providers, outsourcing agreements, management and oversight, and performance monitoring.

Anti-Money Laundering

HK Customs Announces Disciplinary Actions Against Four MSOs

06/09/2024

The MSOs failed to keep records of remittance transactions and to identify beneficial owners and PEPs, among other breaches of AML/CTF requirements.

AI Risk & Governance

Australian Government Begins Implementing New AI Policy

06/09/2024

DTA said it will publish a training module by early October, refresh its GenAI guidance, pilot an AI assurance framework, and develop technical standards.