Fraud, Scams & Cybercrime

Australia: Deloitte Resolves Case of False Expense Claims

22/04/2022

Former director Paul Quill has reportedly agreed to repay Deloitte for over A$3mn of personal purchases claimed as work expenditures.

Fraud, Scams & Cybercrime

Singapore Court Jails Company Director for Cheating Three Banks

22/04/2022

The man used fake invoices in business loan applications to cheat OCBC, Maybank and UOB out of about SGD 2.6 million.

Credit Risk

Vietnam Banks Heed SBV Directive, Limit Real Estate Loans

22/04/2022

The SBV had asked banks to direct credit away from risky areas such as real estate and towards productive industries.

Anti-Money Laundering

FATF Vows ‘Swift and Decisive Action’ on Effectiveness

22/04/2022

The commitment includes action to promptly implement global beneficial ownership rules and increase countries’ capabilities to recover criminal assets.

Supervision & Enforcement

PBOC Amends Bank Inspection Rules and Penalty Procedures

22/04/2022

The PBOC will make “full use” of the Internet, big data and other technical means in off-site inspections and strengthen the collection and sharing of regulatory information.

Reporting & Disclosures

UK FCA Finalises Rules on Board Diversity Disclosure, Targets

21/04/2022

At least 40 percent of the board, and at least one senior position, should be held by women. Disclosures requirements apply for accounting periods starting 1 April 2022.

Cryptocurrency

Korea FTC Considers Stricter Regulations for Upbit, Bithumb

21/04/2022

Korean companies categorised as “large businesses” are placed under close monitoring and must disclose information on major intracompany dealings, board decisions and shareholders.

Market Risk

BOJ Conducts Further Consecutive Unlimited Bond Buying

21/04/2022

Yields have stayed close to the upper limit of the BOJ’s tolerated trading band despite recent moves to boost its purchases of government bonds.

Climate Risk

ABS Launches Environmental Risk Questionnaire for Banks

21/04/2022

The ABS has launched an industry standard template to help banks engage corporate clients in the assessment and mitigation of environmental risk issues.