AML / KYC

US, UK to Jointly Promote Privacy-Enhancing Tech for AML

15/06/2022

The joint initiative will seek to accelerate the development of privacy-preserving federated learning solutions that can help to combat financial crime.

Enforcement

NZ FMA Fines Cigna for ANZ Product Distribution Failures

15/06/2022

ANZ was fined last year for making misleading representations when distributing CCRI policies, many of which were issued by Cigna and OnePath.

AML / KYC

Australian Federal Police Sets Sights on Italian Crime Groups

15/06/2022

Australian Police will use data obtained during Operation Ironside to target Italian organised crime syndicates for drug trafficking and money laundering.

Market Infrastructure

ASX Consults on Fallbacks for 90 Day Bank Bill Futures

15/06/2022

ASX says the inclusion of fallback provisions in contractual documentation will provide contractual and risk management certainty.

Market Infrastructure

Philippines Launches New Framework for Managing Crises

15/06/2022

The SRCM framework sets out how the FSCC should intervene in the event of a potential systemic risk that could negatively affect the macroeconomy.

Capital / Liquidity

APRA Finalises Framework for Limiting Risky Mortgage Lending

15/06/2022

Lenders must ensure they are operationally ready by September to implement loan limits based on DTI multiples or LTV ratios.

AML / KYC

FATF Joins UN Counter-Terrorism Coordination Compact

14/06/2022

Cooperation between the FATF and United Nations will strengthen their ability to go after the money that funds terrorist groups, said Marcus Pleyer.

AML / KYC

Russia Launches Blockchain-Based Alternative to SWIFT

14/06/2022

Russian state-owned firm Rostec said the blockchain-based platform will allow settlements in national currencies and eliminate the risk of sanctions.

MAS, IFC, UNDP Launch Global MSME Empowerment Programme

14/06/2022

The programme will seek to help MSMEs build financial literacy and digital skillsets, address financing gaps and improve financial inclusion.