AML / KYC

Australia to Explore Introduction of SMS Sender ID Register

18/02/2023

The government has asked ACMA to investigate different SMS sender ID register models that can help prevent scams and to report back to the government.

AML / KYC

Trafigura Suffers $577m Fraud Involving Fake Nickel Shipments

17/02/2023

156 containers that were supposed to contain nickel turned out to contain carbon steel, which is worth a fraction of the price.

Korea to Improve System for Requesting Lower Loan Rates

17/02/2023

The right to request a lower loan interest rate was made law but acceptance of such requests in the financial sector has continued to be rare.

Fintech / Regtech

China Trials Platform for Investors to Check Fund Holdings

17/02/2023

A “Fund E Account” platform will provide a “one-stop” service for individual investors to query information about all their holdings in public funds.

Australia Proposals to Regulate BNPL Gains Widespread Support

17/02/2023

AFCA has received more than 3,300 complaints against BNPL providers since 2018. ASIC supports regulating BNPL under the National Credit Act.

Sanctions

China Sanctions US Defence Firms Over Taiwan Weapons Sales

17/02/2023

Lockheed Martin and a unit of Raytheon Technologies were added to China’s “Unreliable Entity List”. The notice requires both to pay fines.

Crypto / Digital Assets

Crypto Crime Rose to Over $20b in 2022: Chainalysis

17/02/2023

Overall, Chainalysis says illicit activity in cryptocurrency remains a small share of total volume at less than 1 percent.

Crypto / Digital Assets

CFTC Charges California Firm for ‘Ponzi-like’ Crypto Fraud

17/02/2023

Vista Network Technologies and its CEO advertised to customers that it would trade their digital assets using “robot traders” which did not exist.

Big Picture

Some APAC Regulators Not Fully Operationally Independent: IOSCO

17/02/2023

Government officials in Singapore, Japan, Hong Kong, Australia and India have some ability to direct or influence securities regulators’ day-to-day operations.