AML / KYC

China Issues Draft Rules Promising Strict Penalties for Fraudsters

16/11/2023

Individuals who commit fraud can have their bank accounts and communication services suspended, and their offences included in the national financial credit information base.

AML / KYC

Singapore Police Make Five Arrests in Anti-scam Operation

16/11/2023

The police acted on information from DBS, seizing S$680,000 and arresting five individuals including a 16-year-old.

Market Infrastructure

ASIC Consults on Further Changes to OTC Derivatives Reporting Rules

16/11/2023

ASIC proposes changes to some data elements and other minor amendments, informed by international developments and industry engagement.

Fintech / Regtech

MAS-Backed Consortium Develops GenAI Risk Framework

16/11/2023

The risk framework will enable FIs to use GenAI in a responsible manner, including by leveraging illustrative use cases to better understand its impacts.

AML / KYC

BCBS Publishes Discussion Paper on Digital Fraud and Banking

16/11/2023

The BCBS is seeking comments and feedback from stakeholders beyond the banking sector to better understand the status of digital fraud as well as its mitigants.

ESG / Sustainability

MAS, Temasek Trust Partner to Drive Fintech and Impact Investment

16/11/2023

MAS and Temasek Trust will explore the creation of a technology framework to facilitate collaborations between open technology-based platforms.

Crypto / Digital Assets

NYDFS Finalises Enhanced Requirements for Crypto Token Listings

16/11/2023

New guidance enhances the risk assessment standards in coin-listing policies and requires licensees to also develop coin-delisting policies.

AML / KYC

Taiwan Crypto Exchange Caught in Money Laundering Probe

16/11/2023

Crypto exchange Bitgin is under investigation and its chief operating officer has been arrested for his alleged ties to a money laundering network.

Capital / Liquidity

PBOC Injects Liquidity into Banking System, More Expected for Property

16/11/2023

The PBOC is planning to provide at least CNY 1 trillion of low-cost financing to banks for urban village renovation and affordable housing programmes.