Fraud, Scams & Cybercrime

Singapore Police Arrest Eight Involved in SMS Phishing Scams

10/06/2022

The scammers were arrested after more than SGD 60,000 was lost in SMS phishing scams targeting DBS customers.

Structural Regulation

HKMA Invites Global Banks to November Summit in Hong Kong

10/06/2022

The two-day summit is reportedly aimed at reversing an exodus of financial talent from Hong Kong after more than two years of Covid-19 measures.

Emerging Prudential Risks

FSB, IMF Conclude Second G20 Data Gaps Initiative

09/06/2022

A third data gaps initiative has been proposed, to address data gaps relating to climate change, fintech and financial inclusion, among other things.

Supervision & Enforcement

ASIC Sues Payday Lender Over ‘Prohibited’ Fees

09/06/2022

The case involves over 670,000 contracts entered into by Sunshine Loans that included an amendment or rescheduling fee that is not permitted.

CBDCs

BOE Publishes Primer Explaining Plans for Possible CBDC

09/06/2022

The BOE will seek views from the public later this year about the possible issuance of a CBDC in the “second half of the decade” at the earliest.

Credit Risk

RBI Issues Standard Asset Provisioning Rules for Large NBFCs

09/06/2022

The new provisioning rules are part of a new regulatory framework for NBFCs that takes effect on 1 October.

Stablecoins

NYDFS Issues Regulatory Guidance for Stablecoin Issuers

09/06/2022

The guidance outlines criteria specifically addressing stablecoin redeemability, asset reserve requirements, and independent audit requirements.

Fraud, Scams & Cybercrime

Two Taiwan Banks Fined Over Misappropriated Customer Funds

09/06/2022

Mega Bank and Huanan Bank were each fined TWD 4 million fine for internal control failures which allowed cashiers to misappropriate customer funds.

Trading & Investment

Shanghai Bourse Streamlines Process for Credit Bond Issuance

09/06/2022

The SSE says the enhanced review process for credit bond issuance and listing is simpler, more clear, and more transparent.