AML / KYC

Korean Police Arrest Woori Employee for Embezzlement

03/05/2022

The theft occurred in three separate withdrawals between 2012 and 2018. It went undetected despite 11 inspections and audits at Woori during the period.

Securities / Derivatives

Taiwan FSC Allows Cross-institutional Data Sharing

03/05/2022

Information sharing will be allowed between FIs that do not have group relations, provided that the data sharing model is first reviewed and approved by the FSC.

AML / KYC

Singapore: Revolut, Luno Get In-Principle Approval to Offer DPT Services

02/05/2022

MAS managing director Ravi Menon described the licensing process as necessarily stringent for Singapore to be a responsible global crypto hub.

PBOC Announces Launch of Two New Re-lending Facilities

02/05/2022

The PBOC will provide banks low cost funds which they can use to support innovative technology companies and institutions providing elderly care services.

AML / KYC

German Authorities Raid Deutsche Bank in Money Laundering Probe

02/05/2022

The raids are reportedly connected to late SARs filings involving a transaction linked to the family of Syrian leader Bashar al-Assad.

Fintech / Regtech

HKMA Issues Regtech Guide on Adopting AI-based Solutions

02/05/2022

The guide highlights the need for banks to establish proper data and AI governance frameworks, and maintain continuous control over AI-based solutions post-implementation.

AML / KYC

Chinese Regulators Consider Options to Guard Against Sanctions

02/05/2022

Officials from the PBOC, MOF and CSRC reportedly met with foreign and domestic banks to discuss ways to protect China’s foreign assets from possible future US sanctions.

Bangladesh Tightens Rules for Agent Banking Operations

01/05/2022

Banks will be required to more closely monitor their agent banking outlets, conduct regular visits of such operations, and submit quarterly reports on any irregularities detected.

Market Infrastructure

DSB Issues Consultation on OTC ISIN and CFI Service

30/04/2022

The consultation focuses on remediation work following a technical review of the DSB’s cloud infrastructure, enterprise-wide risk monitoring tools, and GUI enhancements.