Anti-Money Laundering

FATF Issues Report on Digital Tools for Law Enforcement

12/06/2022

The report offers guidance on the use of technology for investigations, risk assessment, and AML/CFT information exchange.

Emerging Prudential Risks

RBNZ to Start Unloading Government Bond Holdings in July

12/06/2022

The RBNZ has accumulated government bonds worth NZD 53 billion through a quantitative easing programme that began in 2020.

Conduct, Culture & Accountability

ASIC Issues Guidance on Financial Adviser Warnings, Reprimands

12/06/2022

ASIC can issue a warning or reprimand to a financial adviser in circumstances where it does not plan to take stronger enforcement action.

Liquidity Risk

Bangladesh Bank Relaxes Capital Requirement for Padma Bank

12/06/2022

The bank will be allowed to hold liquid assets worth 3.25% of deposits, compared to a 13% requirements for other banks.

PEPs & Sanctions

OFAC Blocks Secondary Market Trading in Russian Debt, Equity

12/06/2022

To date, only the purchase of new issues has been prohibited, and trading in secondary markets has still been allowed.

Fraud, Scams & Cybercrime

BNM Directs Banks to Enhance Fraud Risk Controls

12/06/2022

BNM will take supervisory and enforcement actions against banks that fail to protect their customers from fraud risk.

Supervision & Enforcement

US Ruling Calls Into Question Key SEC Enforcement Mechanism

12/06/2022

The Fifth Circuit court ruled that the SEC’s use of in-house administrative law judges deprived the petitioners of the right to a jury trial.

Structural Regulation

FSC Korea to Improve Fairness of Accounting Review Process

12/06/2022

The review period will be limited to one year in principle, with the possibility of a six-month extension, to prevent accounting reviews from being prolonged.

Fraud, Scams & Cybercrime

Singapore Police Arrest Eight Involved in SMS Phishing Scams

10/06/2022

The scammers were arrested after more than SGD 60,000 was lost in SMS phishing scams targeting DBS customers.