Fintech / Regtech

MAS to Expand Funding Support for Financial Sector Innovation

06/11/2022

MAS will provide a further SGD 150 million in funding over three years to the Financial Sector Technology and Innovation scheme.

AML / KYC

Most Ransomware Attacks Have a Russia Nexus: FinCEN

06/11/2022

About 75 percent of ransomware-related incidents reported to FinCEN in H2 2021 had a nexus to Russia, its proxies, or persons acting on its behalf.

Australia: Customer Owned Banks Gets New Code of Practice

06/11/2022

The new code establishes obligations for more inclusive banking products, expanded lending obligations and guarantor protections, and greater support for vulnerable customers.

Capital / Liquidity

Banks Working to Assess Climate Impacts on Trading Book

06/11/2022

An ISDA-EY report says banks see the potential benefits of engaging with regulators to help define and run an exploratory scenario for the trading book.

Fintech / Regtech

MAS to Cooperate with Ghana on Trade and Financial Services

04/11/2022

MAS will work on initiatives to generate greater opportunities for trade and financial services cooperation between Singapore and Ghana.

Crypto / Digital Assets

NY Fed Issues Phase One Report on Wholesale CBDC Research

04/11/2022

In the test environment, wholesale CBDC transactions on a blockchain-enabled distributed ledger system settled in under 15 seconds on average.

AML / KYC

AUSTRAC Issues Updated Guidance on Due Diligence Obligations

04/11/2022

The first guidance document covers enhanced customer due diligence procedures. The second covers the measures for screening employees and training them on ML/TF risks.

Enforcement

APRA Imposes Licence Conditions on Insignia Group Trustees

04/11/2022

The additional licence conditions require four Insignia trustees to improve their governance and risk management practices, processes and frameworks.

AML / KYC

AUSTRAC Orders AML Audits at Two Corporate Bookmakers

04/11/2022

Sportsbet and Bet365 are among the largest corporate bookmakers in Australia. AUSTRAC chief Nicole Rose said the whole industry is on notice.