Fraud, Scams & Cybercrime

India Raids Payment Firms in Digital Lending App Probe

06/09/2022

The Enforcement Directorate said digital loan app providers involved in extortion and harassment of members of the public are controlled and operated by Chinese persons.

Sustainable Finance

Hong Kong Plans Measures to Lure ESG, Fintech Talent

06/09/2022

The government will also dedicate resources towards providing training aimed at developing local ESG talent. Applications for a fintech subsidy scheme will open on 10 September.

Market Abuse

Singapore Jails Five Former Remisiers for False Trading

06/09/2022

The five were former remisiers for Phillip Securities, OCBC Securities, DBS Vickers Securities, and Maybank Kim Eng Securities.

Anti-Bribery & Corruption

China: Liaoning Officials Probed Following Two Bank Failures

06/09/2022

Among them, two CBIRC officials are accused of failing in their supervisory duties and for accepting bribes in exchange for favours.

Cybersecurity

Singapore: StanChart RM Charged for Unauthorised Access to Customer Data

06/09/2022

The relationship manager used the computers of other bank staff to access the personal information and transactional history of another StanChart employee.

Structural Regulation

Australia: Financial Adviser Associations Consider Merging

06/09/2022

The merger would create a single association that would speak for the financial advice profession in a “unified voice” and add clarity and power to the positions it takes.

Supervision & Enforcement

US Fed Ends HSBC 2012 Deferred Prosecution Agreement

06/09/2022

HSBC welcomed the decision, saying its employees have worked hard over the last decade to transform the bank’s financial crime risk management capabilities.

CBDCs

Digital Dollar Project Launching Sandbox to Explore CBDC

06/09/2022

The programme is slated to begin in early October with a focus on cross-border payments. The initial participants will be Digital Asset, EMTECH, Knox Networks, and Ripple.

Market Risk

Phase 6 of Initial Margin Rules Take Effect

06/09/2022

The final phase of UMR implementation brought into scope approximately 800 firms, including many more buy-side firms than in previous phases.