Sanctions

OFAC Sanctions Iran’s Former President, Intelligence Ministry

19/09/2023

The sanctions were announced after the completion of a prisoner swap, which saw five US citizens released from Iranian detention.

Michele Bullock Begins Term as New RBA Governor

19/09/2023

Bullock will have to work on shoring up the RBA’s credibility and implementing the central bank’s biggest overhaul since the 1990s.

ESG / Sustainability

Indonesia to Launch Carbon Exchange Next Week

19/09/2023

IDX will be the operator of the new carbon exchange. OJK said the launch will mark a “new chapter” in Indonesia’s efforts to reduce GHG emissions.

ESG / Sustainability

TNFD Publishes Final Recommendations on Nature Related Issues

19/09/2023

The Recommendations, launched as part of New York Climate Week, will help companies begin identifying, assessing and disclosing nature-related risks.

AML / KYC

Citibank’s Andrew Marane Explores the Dynamics of Cybercrime in Banks

19/09/2023

Andrew Marane, Director, Fraud Operations APAC/EMEA at Citibank, spoke at Regulation Asia’s Fraud & Financial Crime Asia 2023 event on 13 July. At the sidelines of the event, he shared how the dynamics of cybercrime in banks have changed with fraudsters changing the way they attack. He also touched on million-dollar scams against clients becoming a major fraud challenge for banks and how education can prevent them.

Fintech / Regtech

Singapore Banks Integrate Anti-Malware Feature in Mobile Apps

19/09/2023

The security feature enables banks to block access to their mobile apps and alert the customer if malware is detected on their device.

Enforcement

SFC Penalises Chee Tak Securities and MIC for Regulatory Breaches

19/09/2023

Chee Tak Securities had no written manuals, policies and procedures on recording order instructions, ongoing monitoring, trade surveillance or employee dealing.

Crypto / Digital Assets

Citi Become First Digital Custodian on BondbloX Bond Exchange

18/09/2023

Citi clients can become participants of BondbloX Bond Exchange to trade both fractionalised and full-sized bonds.

Enforcement

Affin Hwang Dealer Punished for Misusing Client Funds

18/09/2023

The Affin Hwang Investment Bank dealer’s representative executed personal and unauthorised trades in clients’ accounts.