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.

Cloud & Infrastructure

Cambodia Launches Fintech Association

21/08/2018

New body will connect Cambodia with overseas fintech associations and has already signed agreements with associations in Thailand, Singapore and Taiwan.

Cryptocurrency

Thailand Green Lights Seven Crypto Operators

21/08/2018

Crypto businesses were in May given 90 days to register with the SEC if they wished to carry on their business.

Credit Risk

Moody’s Upgrades 14 Vietnamese Banks Following Sovereign Ratings Upgrade

20/08/2018

Three state-run banks were among those that received local and foreign currency ratings upgrades following a notch up in Vietnam’s sovereign rating earlier this year.

Anti-Money Laundering

HKMA Reprimands, Fines Shanghai Commercial Bank for AML/CFT Failures

20/08/2018

The bank was fined HK$5mn for ineffective procedures for continuous monitoring of business relationships and due diligence on pre-existing customers.

Market Data & Technology

CPMI, IOSCO Consult on Governance of OTC Derivatives Data

20/08/2018

New consultative document identifies key criteria, functions and bodies for the governance arrangements for critical OTC derivatives data elements data, other that UTI and UPI.