Fraud, Scams & Cybercrime

US Regulator Files Lawsuit Targeting Zelle and Three Major Banks

24/12/2024

The CFPB says JPMorgan, BofA and Wells Fargo failed to implement anti-fraud safeguards on Zelle, resulting in $870mn in losses to customers over 7 years.

Conduct, Culture & Accountability

FMA Says Westpac NZ Admitted to Overcharging 24,000 Customers

24/12/2024

The bank self-reported the issue, fully cooperated with the FMA’s investigation, and provided remediation to impacted customers.

Reporting & Disclosures

Bursa Malaysia Amends Listing Rules to Integrate ISSB Standards

24/12/2024

Large issuers must use the ISSB Standards for their sustainability disclosures starting with the 1 January 2025 annual reporting period.

Fraud, Scams & Cybercrime

JBA Directs Banks to Conduct Inspections on Safe Deposit Boxes

23/12/2024

The notice to banks, which lists specific examples of inspection items, is a response to the theft of over JPY 1 billion from customers’ safe deposit boxes.

Trading & Investment

SEBI Extends Agri-Derivatives Trading Suspension for One Month

23/12/2024

The one-month extension, instead of the three one-year extensions seen since 2021, is viewed as a signal that the suspension might be lifted early next year.

Payments & Settlements

UnionPay, WeChat Pay Collaborate to Make Payments Easier for Foreigners

23/12/2024

Travellers using any of eight overseas e-wallets including HSBC’s PayMe and Naver Pay can now make payments on the mainland by scanning WeChat QR codes.

Clearing & Post-Trade

ASX Recovers from Worst Market Disruption in Four Years

23/12/2024

No trade settlements took place on Friday due to a “CHESS batch settlement delay”. Engineers had to work through the weekend to resolve the issue.

PEPs & Sanctions

US Sanctions Four Entities for Supporting Pakistan Missile Programme

23/12/2024

The entities worked to supply equipment and missile‐applicable items to Pakistan’s ballistic missile programme

Anti-Money Laundering

Wolfsberg Group Issues Payment Transparency Roles & Responsibilities Guidance

23/12/2024

The guidance aims to help PSPs, regulators, and standard-setters understand their respective obligations in ensuring payment transparency.