Anti-Money Laundering

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.

KYC & CDD

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.

Market Abuse

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’.

Credit Risk

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.’

Credit Risk

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.

Clearing & Post-Trade

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.

Supervision & Enforcement

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.

Anti-Money Laundering

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.

Fraud, Scams & Cybercrime

Japan FSA to Set up Anti Cybercrime, Money Laundering Bureau

23/08/2017

Internal reorganisation acknowledges growing role of fintech, which will be regulated by FSA Planning and Coordination Bureau with enhanced powers.