AML / KYC

Vietnam Central Bank Confesses Risk Monitoring, Inspection, Anti-corruption Failures

12/09/2017

Government Inspectorate says SBV should take action against individuals named in report; provincial and administrative units reminded to report all criminal activity.

AML / KYC

Philippines Banker Indicted for Bangladesh Heist Role

11/09/2017

Banker accused of facilitating transfer of $14mn into fake accounts, transferring money to a single account without following KYC procedures.

AML / KYC

Malaysia Central Bank to Finalise e-KYC Standards

11/09/2017

BNM governor has said the central bank intends to operationalise industry-wide e-KYC from next year; regulations for use in remittances to come soon.

AML / KYC

SEBI Bars 19 Firms for Depository Receipt Market Manipulation

07/09/2017

Regulator says violations could make investors ‘lose faith in the Indian securities market and even good companies will find it extremely difficult to raise capital’.

Capital / Liquidity

Japan’s Low Interest Rate Environment Suffocates Regional Banks

07/09/2017

FSA’s commissioner ‘embarrassed to see regional banks’ balance sheets in their core businesses deteriorate more quickly than we expected.’

Capital / Liquidity

SAS, KPMG Launch Microsoft Azure-based IFRS 9 Solution

31/08/2017

Technology will be offered 1st in Singapore to meet January 2018 IFRS 9 deadline, can be extended to stress testing and other regulatory requirements.

Fintech / Regtech

HKMA Launches New Round of Trade Repository Testing

28/08/2017

Two-stage testing of Phase 2 reporting to depository covers interest rate, foreign exchange, equity, credit and commodity derivatives.

Capital / Liquidity

Philippine Central Bank Strengthens Compliance Standards

28/08/2017

Chief compliance officer must be full-time, boards given overarching responsibility; foreign banks must translate all documents into English.

AML / KYC

Lawyers Seek to Sue Bank for Share Price Drop after AML Revelations

24/08/2017

Firms claim share price would not have suffered as precipitous a decline if claims of money laundering had been revealed earlier.