AML / KYC

ACCC Raises Alarm Over Rising Fake Bond Scams

05/08/2022

Reported losses suffered by Australian victims of imposter bond scams increased by 265% to A$20mn in H1, compared to the same period last year.

Enforcement

Korea FSS Fines KakaoBank Over Remittance Service Failures

05/08/2022

The FSS said KakaoBank launched the new remittance service without proper testing, and provided prohibited loans to major shareholders.

ESG / Sustainability

APRA Reveals Findings of Climate Risk Management Surveys

05/08/2022

Survey responses from banks. insurers and super funds shows are “encouraging”. A key area for improvement is metrics and targets.

AML / KYC

New York State Regulator Penalises Robinhood Crypto Unit

04/08/2022

Robinhood Crypto had inadequate staffing of its AML programme, transaction monitoring deficiencies, and noncompliant cybersecurity policies.

AML / KYC

US SEC Charges 11 Over Crypto Pyramid and Ponzi Scheme

04/08/2022

Forsage investors earned profits by recruiting others into the scheme, which used assets from new investors to pay earlier investors.

Market Infrastructure

ASX: Launch of New CHESS Platform Delayed Until Late 2024

04/08/2022

Accenture to provide an independent review of the new CHESS application and help ASX determine a new launch schedule.

AML / KYC

DBS-led Hackathon to Tackle Fraud Challenges

04/08/2022

More than 100 law enforcers, lawyers, bank staff and other professionals have assembled into teams to brainstorm new solutions to stop scams.

AML / KYC

China Responds to US ‘Treachery’ With Taiwan Trade Curbs

04/08/2022

China has banned imports of citrus fruit, two types of fish, and food items from 107 Taiwanese brands. Exports of natural sand to Taiwan are banned.

Securities / Derivatives

CSRC Vows to Stabilise Markets, Promote Regulatory Reforms

04/08/2022

The CSRC has vowed to stabilise domestic capital markets, among other regulatory priorities for the second half of the year.