Credit Risk

FSC Korea to Introduce Measures to Help Vulnerable Borrowers

23/07/2022

The FSC chairman has clarified that the plan is not intended to help those who have lost money on stock and crypto investments funded by cheap loans.

Trading & Investment

Bangladesh Creates New Refinance Scheme for Small Business

23/07/2022

At least 75 percent of the BDT 250 million scheme will be disbursed among cottage, micro and small entrepreneurs, and 25 percent to medium sized enterprises.

Fraud, Scams & Cybercrime

US Recovers Crypto Ransoms Paid by Healthcare Providers

23/07/2022

The FBI seized about USD 500,000 from two crypto accounts that had received ransoms paid by US health care providers to North Korean hackers.

Anti-Money Laundering

HKMA, Cyberport Jointly Promote Use of AML RegTech

22/07/2022

HKMA, Cyberport and Deloitte co-organised the second AMLab, focusing on low-barrier technologies such as RPA and visualisation tools.

Data Privacy

PDPC Issues Data Protection Guidance for Blockchain Apps

22/07/2022

The guidance provides data protection recommendations for firms developing and deploying blockchain apps that process personal data.

Stablecoins

UK Gov Publishes Financial Services and Markets Bill

22/07/2022

The bill establishes HM Treasury’s authority to make regulations for digital assets including stablecoins.

Data Privacy

China CAC Fines Didi ¥8bn for Data Security Breaches

22/07/2022

The fine is seen as a sign that China’s regulatory crackdown in the tech sector is winding down. Didi is expected to be able to resume normal operations.

Payments & Settlements

Mortgage Refinancing Transactions Made Safer in Hong Kong

21/07/2022

Under the new PAPT mechanism, mortgage refinance proceeds can be transferred directly from one bank to another rather than via a law firm.

Structural Regulation

BNM Sets Deadline for Foreign Insurers to Reduce Stakes in Local Firms

21/07/2022

Most foreign insurers in Malaysia have not complied with a 70 percent limit set in 2009 on their ownership in local firms.