PEPs & Sanctions

Chinese Firms Turning to Illegal Channels for Russia Business

30/04/2024

With China’s big banks no longer processing Russia-related payments, exporters are increasingly turning to underground channels including cryptocurrency.

Payments & Settlements

CPMI Publishes SLA Guidance for Cross-border Payments

30/04/2024

New CPMI report offers high-level recommendations on the design of service level agreements used in cross-border payment arrangements.

PEPs & Sanctions

China Cautions Japan Against Expanding Export Controls

30/04/2024

MOFCOM said Japan’s proposal to expand its controls on certain semiconductor products will damage the stability of global supply chains.

Supervision & Enforcement

Korea FSS to Launch Inspections at NongHyup Bank

30/04/2024

The bank experienced two misconduct incidents involving embezzlement, potentially due to weak internal controls.

Sustainable Finance

China NFRA Issues New Guidance on Green Insurance

30/04/2024

The guidance sets out expectations for insurers to develop green insurance products and services and boost green investments.

Fraud, Scams & Cybercrime

Taiwan Prosecutors Charge 32 Suspects Over Crypto Fraud

29/04/2024

The suspects encouraged investors to purchase various tokens and manipulated their prices, causing TWD 800 million in losses.

Data Privacy

Message Encryption In Focus for Indian, European Authorities

29/04/2024

WhatsApp will leave India if it is required to break encryption. Europol expresses concern with message encryption on Messenger.

Conduct, Culture & Accountability

China Securities Regulator Issues Warning to CICC

29/04/2024

The regulator said CICC employs unqualified personnel and does not have adequate monitoring of employees in place.

PEPs & Sanctions

OFAC Extends Authorisation for Russia-related Energy Transactions

29/04/2024

The general licence authorises energy-related transactions with nine Russian banks and the central bank. It was scheduled to expire on 1 May 2024.