Anti-Money Laundering

Taiwan FSC Identifies Crypto ATMs Breaching AML Rules

28/01/2022

Of 16 companies that have reported their AML compliance to the FSC, 13 will be required to make corrections.

Operational Risk

BSP Implementing “RING” Approach to Protect Financial System

27/01/2022

“RING” stands for Risk management guidelines, Integrity, New technologies, and Governance standards, said BSP governor Benjamin Diokno

Payments & Settlements

Malaysia, Indonesia Launch Cross-border QR Payments Linkage

27/01/2022

The linkage will eventually be expanded to support real-time cross-border fund transfers. The 2nd phase of Malaysia’s QR payment linkage with Thailand has also gone live.

Fraud, Scams & Cybercrime

HK ICAC Charges Three Ex-StanChart Employees For Fraud

27/01/2022

The former relationship managers were among five individuals indicted for conspiring to deceive Japanese investors with false documents.

CBDCs

Bank of Korea to Advance CBDC Testing to Second Phase

26/01/2022

In phase two, BOK will test offline payments, remittances to accounts outside Korea, and the use of its CBDC as payment for NFTs.

Structural Regulation

Global Banks Seeking Clarity on China’s Overseas IPO Rules – Report

26/01/2022

An industry body has reportedly represented to the CSRC that global banks need more clarity on its new rules for domestic companies seeking overseas IPOs.

Trading & Investment

New Zealand FMA Approves First Passport Fund Under ARFP

26/01/2022

NZX-owned Smartshares Limited has become the first fund manager to be approved under the Asia Region Funds Passport scheme.

CBDCs

BIS Innovation Hub to Expand Work Programme in 2022

25/01/2022

The BIS Innovation Hub will launch new projects into CBDCs, payments systems, DeFi, green finance, regtech, suptech and cybersecurity.

Anti-Money Laundering

FinCEN to Allow FIs to Share SARs with Foreign Affiliates

25/01/2022

A limited-duration pilot programme would permit FIs to share SARs and information related to SARs with foreign branches, subsidiaries, and affiliates.