AML / KYC

AUSTRAC Proposes New Guidance on Performing SoF, SoW Checks

22/02/2022

The draft guidance explains source of funds and source of wealth checks, and when reporting entities should perform such checks using a risk-based approach.

AML / KYC

Philippine AMLC Asks FIs to Guard Against Digital Vote-Buying

21/02/2022

The advisory comes in anticipation of an influx of financial activities that usually occur during elections. The Philippines has a general election on 8 May.

Market Infrastructure

Nepal to Become First Country to Deploy India’s UPI

21/02/2022

Nepal’s UPI is expected to be deployed over the next few months, with all the functionalities and features presently available in India.

RBI to Consolidate Reg Reporting Requirements in Single View

21/02/2022

The RBI will withdraw 100 circulars and consolidate all regulatory reporting and return submission requirements on a single webpage.

AML / KYC

Korea’s KT Corp to Pay $6.3m for FCPA Violations

21/02/2022

KT Corp maintained slush funds for nearly a decade which were used by executives and employees to bribe Korean and Vietnamese officials.

Fintech / Regtech

Taiwan to Complete Second Phase of CBDC Trials By September

21/02/2022

Under the current design, a two-tier system is being used that will allow users to exchange bank deposits with the TWD digital currency.

Fintech / Regtech

BNM Allows Individuals to Complete eCCRIS Registration Digitally

21/02/2022

The enhancements make it more convenient and safer for individual users to register for eCCRIS and access their credit reports, for free, BNM says.

ESG / Sustainability

Singapore Govt, MAS to Extend Support for Businesses

21/02/2022

MAS is extending its SGD facility to support SME lending. Singapore will target net zero emissions by or around 2050, which was previously the target for halving emissions.

Fintech / Regtech

HKMA, PBOC Invite Firms to Test Fintech Initiatives Across GBA

21/02/2022

The objective of the link is to provide a “one-stop platform” to allow FIs and technology firms to pilot test their cross-boundary fintech initiatives, concurrently in Hong Kong and GBA cities.