Anti-Money Laundering

HK Customs Arrests Two for Laundering $5.6 Million

06/06/2021

Two people were arrested for using personal bank accounts to receive payments from the sale of counterfeit goods and launder money.

Cloud & Infrastructure

APRA Publishes New Guide on Using New Data Collection Platform

06/06/2021

The guide provides comprehensive information to assist users in accessing, navigating and using APRA Connect.

Anti-Money Laundering

APG Publishes 2nd Follow-up Report on Pakistan

04/06/2021

Pakistan had requested a re-rating on 23 FATF Recommendations: 21 were upgraded, one was not re-rated, and one was downgraded.

Anti-Money Laundering

Philippine Financing, Lending Firms Must Register with AMLC by 21 June

04/06/2021

Newly covered financing and lending companies that fail to register with the AMLC by 21 June will incur penalties.

Structural Regulation

Japan to Remove Firewall Between Banking, Securities Operations

04/06/2021

The FSA is reportedly working on rule changes that would allow banks and securities firms within the same group to share customer data.

Fraud, Scams & Cybercrime

MAS Bans Former Representative Over Forgery Conviction

04/06/2021

The former representative deceived online platform OANDA into crediting money into his personal trading account through forged screenshots of a bank transfer.

KYC & CDD

HKIFA Warns Against Concealing Company Director Information

04/06/2021

The government proposal to stop requiring companies to reveal certain information about directors will hinder fund managers’ ability to conduct due diligence.

Trading & Investment

SEBI Defers Fund Disclosure Rule by Three Months

04/06/2021

New rules for the disclosure of scheme risk-o-meters, performance and portfolio details will be implemented on 1 September instead of 1 June.

Cloud & Infrastructure

MAS Issues Guidance on Managing Risks of Cloud Services

04/06/2021

In a new advisory, MAS highlights the key risks and control measures FIs should consider before adopting public cloud services.