AML / KYC

EBA CLEARING Issues Specifications for New Anti-Fraud Functionality

18/09/2023

Nine banks are engaged in the data model training for the new fraud-fighting functionality in STEP2 and RT1.

Sanctions

US and Allies Impose New Wave of Sanctions Against Iran

18/09/2023

The sanctions by the US, UK, Canada and Australia come one year after the death of Mahsa Amini while in the custody of Iran’s Morality Police.

AML / KYC

SC Ventures’ Su Kiang Lau Shares How Banks Face Fraud and Cybersecurity Challenges

18/09/2023

Su Kiang Lau, Executive Director – Conduct, Financial Crime and Compliance at SC Ventures, spoke at Regulation Asia’s Fraud & Financial Crime Asia 2023 event on 13 July. At the sidelines of the event, he discussed how banks are looking at major challenges such as fraud, cybersecurity crime and data security. He also shared how Standard Chartered is using data to detect fraud risks.

ESG / Sustainability

Report Offers Guidance on Financial Sector Alignment With Paris Accord

18/09/2023

New report from IMF, World Bank, and OECD seeks to ensure diverging approaches to Paris Agreement alignment do not push climate goals further away.

Securities / Derivatives

Beijing Authorities Announce Measures to Support Tech Unicorns

17/09/2023

The measures emphasise a focus on facilitating public listings by tech unicorns in both domestic and overseas stock markets.

AML / KYC

Australia Introduces Identity Verification Services Bill to Parliament

17/09/2023

The government said the bill strikes “the right balance between achieving fast and convenient identity verification and maintaining strong standards of privacy and security.

Capital / Liquidity

First Chinese Insurer Approved to Issue Perpetual Bonds

17/09/2023

Taikang Life’s approval comes a year after Chinese regulators said they would allow insurance companies to issue perpetual bonds to replenish their capital.

Capital / Liquidity

BIS Paper Suggests Redesign of AT1 Instruments May Be Warranted

17/09/2023

The paper says some market participants “may not fully appreciate” that writedown conditions  may differ across AT1 instruments.

AML / KYC

Philippine SEC Teams Up With US Counterpart, IOSCO to Tackle Securities-related Crime

15/09/2023

The Philippines SEC is looking to strengthen its enforcement capabilities to protect investors from securities fraud and other forms of investment scams.