Fintech / Regtech

Singapore Establishes Inter-agency Taskforce on Ransomware

20/10/2022

The Counter Ransomware Task Force comprises senior government representatives from the technology, cybersecurity, financial regulation and law enforcement domains.

AML / KYC

EU to Sanction Iran Over Drone Sales to Russia

20/10/2022

The EU has just imposed sanctions over the way protests in Iran are being handled. The drone transfers to Russia are considered a violation of a UNSC resolution.

Australia: Industry Body Launches BNPL Code Review

19/10/2022

The review was launched six months early in response to feedback from stakeholders. The findings are due to be reported by 1 March 2023.

Korea Warns Against Direct FX Transactions Between Individuals

19/10/2022

Any foreign currency transactions worth more than KRW 5,000 has to be reported to the central bank, or face penalties for violating Korea’s foreign exchange laws.

AML / KYC

Philippines to Curb Scams by Requiring ID Registration for SIM Cards

19/10/2022

Telcos are required to collect customer ID information when selling SIM cards. The law is aimed at curbing the spread of spam text messages and scams.

Fintech / Regtech

India Launches Digital Banking Units to Advance Financial Inclusion

19/10/2022

The units were established by 24 banks to house digital infrastructure for the delivery of digital banking products and services in self-service and assisted mode.

Securities / Derivatives

Malaysia SC Signs Regional MMoU on Supervisory Cooperation

19/10/2022

Malaysia’s SC now has a cooperative arrangement on supervisory matters with regional counterparts in Australia, Hong Kong, Japan, Singapore and Thailand.

Crypto / Digital Assets

US Regulators Probe Failed Crypto Firm Three Arrows Capital

19/10/2022

The SEC and CFTC are reportedly looking into whether Three Arrows misled investors and violated rules by not registering its business.

Market Infrastructure

South Korea Scraps Foreigner Tax on Government Bond Income

19/10/2022

The government was planning to waive the tax for non-residents and foreign corporations in January but decided to bring the measure forward.