AML / KYC

Korea to Launch National Digital ID in 2024

20/10/2022

An app will be used to embed blockchain-powered digital IDs into mobile devices. Government officials will not have access to stored data.

Crypto / Digital Assets

Japan FSA Commences Annual Cyberattack Drills with FIs

20/10/2022

The participants include banks, credit unions, securities firms,  payment providers, money transfer agents and crypto exchanges.

AML / KYC

Philippine May Pass Bank Secrecy Law Amendments Next Month

20/10/2022

The amendments will allow the BSP to look into deposit accounts for inquiries into fraud, serious irregularity, and unlawful activity.

Securities / Derivatives

CFTC Issues No-Action Relief for Korean Stock Indices

20/10/2022

The relief will continue until the affirmation, termination or denial of the request for CFTC certification, or 24 April 2023 – whichever is earlier.

Securities / Derivatives

Bursa Malaysia Proposes to Extend Waqf Framework to REITs, ETFs

20/10/2022

The proposed amendments are meant to complement SC initiatives to broaden the range of Islamic products available in the capital market, Bursa Malaysia says.

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.