Payments & Settlements

HK-China Bond Connect Enables DvP Settlement

27/08/2018

A key demand from international investors, a real-time delivery-versus-payment settlement system has now been implemented on the Bond Connect.

Structural Regulation

China Scraps Foreign Ownership Limits in Domestic Banks, Asset Managers

27/08/2018

Banking regulator says foreign firms will now be treated as local institutions in terms of market access and administrative licensing.

Anti-Money Laundering

Thomson Reuters, Singapore FinTech Association Join Forces on Financial Crime

24/08/2018

The collaboration joins the Singapore FinTech Association network with Thomson Reuters Labs technical expertise to solve issues around financial crime.

Structural Regulation

CFTC Grants Osaka Exchange FBOT Registration Status

23/08/2018

Osaka Exchange demonstrates the attributes of an established, organised exchange which is subject to continued oversight by regulators, the CFTC said.

Fraud, Scams & Cybercrime

AusPayNet Consults on Online Fraud Mitigation Framework

23/08/2018

‘Card-not-present’ fraud accounts for 85% of all card fraud, as criminal activity migrates to online channels following the success in chip technology in preventing in-person fraud.

Data Privacy

China Sees Largest Ever Theft of User Data

23/08/2018

Shenzhen-listed Ruizhi Huasheng Technology, a third party developer for state-run mobile carriers, stole up to 3 billion pieces of user data from 96 companies including Alibaba, Tencent and Baidu.

Supervision & Enforcement

Hong Kong Forex Broker Fined for Mishandling Client Money

23/08/2018

HPI Forex Limited transferred client money from segregated client account to two overseas brokers, breaching the Code of Conduct and the SFC’s client money rules.

CBDCs

Thailand Central Bank Digital Currency Prototype Slated for Q1 2019

22/08/2018

Bank of Thailand will work with 8 participating banks to design, develop and test domestic wholesale funds transfers using a central bank digital currency.

Fraud, Scams & Cybercrime

Chinese Police Arrest Hackers on Suspicion of $88mn Cryptocurrency Theft

22/08/2018

Chinese police have arrested three individuals who allegedly hacked computers belonging to individuals and companies to steal 600 million yuan in bitcoin and ether.