Enforcement

MAS Charges Two Insurance Agents for Falsifying Documents

23/05/2022

Two insurance agents of Prudential Assurance Company Singapore provided false information to MAS in relation to an investigation it was pursuing.

AML / KYC

Crypto Firms Launch Scam Reporting Platform: Chainabuse

22/05/2022

Chainabuse is backed by TRM Labs, Solana Foundation, Circle, OpenSea, Binance, The Aave Companies, CIVIC, and Hedera.

Securities / Derivatives

Shanghai Bourse Allows Pledging of Bond ETFs in Repo Trades

22/05/2022

The move is aimed at enhancing liquidity in bond ETF secondary markets by promoting greater participation by institutional investors.

CBIRC Proposes New Rules on Consumer Rights Protection

22/05/2022

The proposed rules prohibit misleading sales, compulsory product bundling, unreasonable charges, and “algorithmic discrimination”.

AML / KYC

Fugitive Former Banker from Bangladesh Arrested in India

22/05/2022

PK Halder has been on the run since 2019 after allegedly defrauding multiple NBFIs in Bangladesh of more than $280,000.

AML / KYC

Australia: FSC Calls for Measures to Stop Online Scam Ads

22/05/2022

The Financial Services Council is calling for the introduction of a mandatory code of conduct for digital platforms like Facebook and Google to prevent financial scams.

Enforcement

Korea: Shinhan Bank Discovers Embezzlement by Employee

22/05/2022

Days earlier a Woori Bank employee was arrested for embezzling KRW 61.4 billion between 2012 and 2018.

China to Centralise Efforts to Resolve Overdue Payments to SMEs

22/05/2022

The campaign aims to resolve arrear payments due to SMEs for projects, goods and services purchased by government agencies, state-owned institutions and large enterprises.

RBI Assesses Six Applicants Unsuitable for Banks Licensing

22/05/2022

RBI had received 11 applications to set up universal banks and small finance banks. The RBI (Reserve Bank of India) […]