Crypto / Digital Assets

HSBC to Launch Custody Service for Tokenised Securities

09/11/2023

The new digital assets custody service will launch in 2024, using custody infrastructure provided by Ripple-owned Metaco.

Sanctions

UK Targets Russian Gold and Oil as EU Preps New Sanctions Package

08/11/2023

UK government announced asset freezes on 29 individuals and entities in Russia’s gold, oil, and strategic sectors.

Fintech / Regtech

DBS to Strengthen In-House Software Engineering Team

08/11/2023

DBS chief Piyush Gupta said deeper engineering talent is needed in-house to troubleshoot software bugs such as those that caused this year’s service disruptions.

AML / KYC

ASIC Launches New and Improved Investor Alert List

08/11/2023

The list includes entities that are offering services to Australians without authorisation, as well as “impostor” entities and websites.

AML / KYC

FinCEN Finalises Rule on Use of FinCEN Identifiers in BOI Reporting

08/11/2023

Beneficial owners of numerous reporting companies would be able to use FinCEN identifiers to simplify the reporting process and for data security purposes.

Fintech / Regtech

Singapore’s OCBC Experiences 2.5 Hour Service Disruption

08/11/2023

In Singapore, banks are required to ensure that critical systems and services can be restored within four hours following an outage.

AML / KYC

Malaysia Close to Settling Outstanding 1MDB Debts – Report

08/11/2023

Funds Malaysia will receive next year as part of a settlement with an Abu Dhabi state fund will give it enough to pay off 1MDB’s remaining debts.

Sanctions

New York State Fines Payments Company for Weak Sanctions Controls

07/11/2023

Payoneer settles with New York State for USD 1.2 million for compliance failings after paying OFAC USD 1.4 million in 2021.

AML / KYC

Taiwan Financial Adviser Suspected of Colluding with Fraud Syndicates

07/11/2023

A former financial adviser of DBS Taiwan reportedly caused $1.5mn of losses to clients through collusion with criminal gangs and fraud groups.