Payments & Settlements

Singapore Enters 2nd Phase of Blockchain-based Payments Trial

09/10/2017

Trial has already been completed on interbank transfers; blockchain programme will be extended to include securities sector as well as payments.

Cybersecurity

Thai Banks Join up to Improve Cybersecurity

09/10/2017

Fifteen banks in Thailand have set up a group to tackle information technology stability and security and prepare for cyber-attacks.

Supervision & Enforcement

Malaysian Central Bank to ‘Name and Shame’ Rulebreakers

09/10/2017

Bank Negara Malaysia governor says it has shared the names of more than 400 individuals with banks in the country over the past three months.

KYC & CDD

Standard Chartered Guernsey-Singapore Transfers Under Investigation

09/10/2017

Authorities suggest bank may have conducted $1.4bn of transfers to Singapore to avoid being caught under Common Reporting Standard.

Anti-Money Laundering

Forensic Accountancy Programme Launched in Singapore to Combat Financial Crime

05/10/2017

Forensic accountancy qualification will be open to financial crime compliance and investigations professionals; ACRA to consider monitoring audit firms.

Anti-Money Laundering

China Raises AML Concerns About Non-financial Sectors

05/10/2017

PBOC will target areas including real estate intermediaries and jewelry sales, says will not disrupt ‘normal and legal’ cross-border transactions.

Operational Risk

Malaysia Revising Prudential Framework for Outsourcing by Financial Institutions

04/10/2017

Banks will be urged to enhance due diligence and do more to protect data confidentiality as BNM cites risks from outsourcing to shared services.

Cybersecurity

Philippines Set to Introduce Tighter Cybersecurity Requirements for Banks

04/10/2017

Measures will include enhanced risk management and governance requirements as well as increased use of cloud technology.

Cybersecurity

Vietnam to Increase Scrutiny of Electronic Trading for Security Loopholes

04/10/2017

Brokerages will be required to report more data, ensure their systems are transparent, fair, secure and compliant with national laws.