Posts By Editors, Regulation Asia
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AML / KYC
China Banking Regulator Doubles Down, Again, on Systemic Risk
CBRC says failure of regulators to identify risks amounts to ‘dereliction of duty’; urges lenders to sort out non-performing loans.
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AML / KYC
Official Media Confirms China Bitcoin Ban Only Temporary
Xinhua says authorities will introduce a licensing programme and stricter AML rules for cryptocurrency exchanges; ICOs also to become regulated.
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Fintech / Regtech
Singapore Enters 2nd Phase of Blockchain-based Payments Trial
Trial has already been completed on interbank transfers; blockchain programme will be extended to include securities sector as well as payments.
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AML / KYC
Thai Banks Join up to Improve Cybersecurity
Fifteen banks in Thailand have set up a group to tackle information technology stability and security and prepare for cyber-attacks.
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AML / KYC
Malaysian Central Bank to ‘Name and Shame’ Rulebreakers
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.
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AML / KYC
Standard Chartered Guernsey-Singapore Transfers Under Investigation
Authorities suggest bank may have conducted $1.4bn of transfers to Singapore to avoid being caught under Common Reporting Standard.
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AML / KYC
Forensic Accountancy Programme Launched in Singapore to Combat Financial Crime
Forensic accountancy qualification will be open to financial crime compliance and investigations professionals; ACRA to consider monitoring audit firms.
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AML / KYC
China Raises AML Concerns About Non-financial Sectors
PBOC will target areas including real estate intermediaries and jewelry sales, says will not disrupt ‘normal and legal’ cross-border transactions.
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Asia-Pacific
Malaysia Revising Prudential Framework for Outsourcing by Financial Institutions
Banks will be urged to enhance due diligence and do more to protect data confidentiality as BNM cites risks from outsourcing to shared services.
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Asia-Pacific
Philippines Set to Introduce Tighter Cybersecurity Requirements for Banks
Measures will include enhanced risk management and governance requirements as well as increased use of cloud technology.
