Fraud, Scams & Cybercrime

India: RBIH Wants Banks to Use AI to Detect Mule Accounts

03/12/2024

The Reserve Bank Innovation Hub is reportedly in talks with ten public and private banks about adopting its “Mulehunter.Ai” tool to identify mule accounts.

PEPs & Sanctions

US Targets China Chip Production With New Export Controls

03/12/2024

The controls aim to further impair China’s ability to procure and produce technology for its military modernisation, WMD programmes, and ability to repress human rights.

Capital Adequacy

HKMA Revises Guideline for Bank on Capital Adequacy Regime

03/12/2024

The revised SPM module incorporates changes to align with the Basel III final reforms which take effect from 1 January 2025.

Structural Regulation

Australia Passes Legislation on Tax Transparency and Global Minimum Tax

03/12/2024

Certain multinational enterprises will begin public country-by-country reporting of tax and other financial information, backdated from 1 July 2024.

Liquidity Risk

PBOC Works to Ease Funding Pressure Through Liquidity Injections

03/12/2024

The PBOC conducted ¥800bn in outright reverse repo transactions and bought a net ¥200bn of sovereign bonds in November. An RRR cut is likely still needed.

PEPs & Sanctions

BRICS Nations Face ‘100% Tariffs’ if They Move Away from USD

02/12/2024

President-elect Trump said the BRICS nations will face “100% Tariffs” if they create a new BRICS currency or back any other currency to replace the US dollar.

Trading & Investment

SEBI to Make Stock Exchanges Interoperable to Guard Against Outages

02/12/2024

The NSE and BSE will act as alternative trading venues for each other when a technical glitch or outage occurs at either exchange.

CBDCs

Iran Launch of CBDC to Combat Sanctions is ‘Imminent’ – Report

02/12/2024

The Central Bank of Iran also recently launched a SWIFT alternative, the “ACU-MIR” system, which is enabling transactions with countries such as India and Pakistan.

Credit Risk

China NFRA Encouraging Banks to Lend to Small & Micro Enterprises

02/12/2024

The NFRA has revised its framework for annual regulatory evaluations of banks to increase focus on the provision of credit to micro and small enterprises.