Fintech / Regtech

BIS, Bank Indonesia Invite Firms to Solve CBDC Challenges

26/04/2022

Firms are invited to develop new solutions for issuing and distributing CBDCs, improve interoperability and advance financial inclusion.

Enforcement

MAS Penalises Two CIMB Securities Brokers for False Trading

26/04/2022

The two brokers rigged the market for Kris Wiluan, who was convicted and fined in May 2021 for manipulating the stock prices of KS Energy where he was CEO.

AML / KYC

Australia Sanctions More Russian Lawmakers, US Blocks Port Access

26/04/2022

Australia has now sanctioned nearly 750 individuals and entities in response to the war in Ukraine. Russian-affiliated vessels are prohibited from entering US ports.

AML / KYC

FCA Directs Challenger Banks to Bolster FCC Controls

26/04/2022

The FCA said it found weaknesses relating to customer due diligence, risk assessment, management of transaction monitoring alerts, and SAR quality.

AML / KYC

Philippine Banks Directed to Monitor Gaming-related Transactions

25/04/2022

FIs are asked to bolster their CDD and file reports when suspicious transactions are observed involving play-to-earn games such as the recently-hacked Axie Infinity.

AML / KYC

Chinese Payments Firms Take Steps to Stop Online Fraud

25/04/2022

Alipay removed more than 170,000 accounts linked to illegal activity, just days after the government issued guidance on combatting internet fraud.

AML / KYC

FSS Korea Launches Probe Over Shinhan Card Frauds

25/04/2022

Shinhan Card is directed to enhance its card issuance and fraud prevention systems, and compensate customers for losses.

Securities / Derivatives

SEBI Issues Operational Guidelines for DLT-based Platform

25/04/2022

The new DLT-based platform is designed to monitor security creation, covenants and asset cover of non-convertible securities.

Securities / Derivatives

China Officially Launches Voluntary Private Pension Scheme

25/04/2022

Employees will be allowed to contribute up to CNY 12,000 annually to individual pension accounts, which can be invested in relatively lower risk and longer-term financial products.