MAS, Mastercard Agree to Cooperate on Cybersecurity

10/04/2024

The MoU covers intelligence sharing and joint analysis of cyber threats impacting financial services as well as competency-building activities.

AML / KYC

US Prepared to Sanction Chinese Banks That Aid Russian Military

09/04/2024

Janet Yellen said the US stands ready to act against “anything that involves aiding Russia’s military in their brutal war”.

AML / KYC

Malaysia Consults on Proposed Trust Companies Bill

09/04/2024

Since coming into force in 1949, Malaysia’s Trust Companies Act has only been reviewed once in 1973.

Crypto / Digital Assets

Korea to Soon Release Listing Guidelines for Virtual Assets

09/04/2024

Crypto platforms will not be allowed to list tokens that have had security incidents, unless the cause has been identified and explained and the damage has been recovered.

Crypto / Digital Assets

China Asset Management Applies to Launch Spot Bitcoin ETF in HK

09/04/2024

China Asset Management, one of the Mainland’s largest asset management companies, also has a cooperation agreement with HashKey.

China: SAFE Further Optimises Processes for FX Business

09/04/2024

The requirement for local branches of SAFE to approve registrations of foreign trade enterprises has been canceled. Banks will directly handle registrations instead.

Japan Launches New Organisation to Boost Financial Literacy

09/04/2024

The new organisation will aim to enrich financial and economic education and contribute to improving financial literacy in Japan.

CCB Files Winding-up Petition Against Chinese Developer Shimao

09/04/2024

In other cases involving Chinese developer defaults, legal action was initiated by foreign creditors, not a state-owned bank.

AML / KYC

Indonesian President Signs Decree on FATF Membership

09/04/2024

The decree signing strengthens Indonesia’s commitment to participate in combating financial crime globally, said the head of the country’s FIU.