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.

Market Infrastructure

Bank Indonesia Deepens Ties with BOK Under New MoU

20/02/2022

The collaboration will include areas such as cross-border payments, digital payments, and other areas related to settlement and market infrastructure.

Fintech / Regtech

US DOJ Appoints First Director of National Crypto Enforcement Team

20/02/2022

The FBI has meanwhile created a new “Virtual Asset Exploitation Unit”, which will provide analysis, support, training and new tools to stay ahead of future crypto-related threats.

BSP Eases Confirmation Process for Bank Directors, Officers

20/02/2022

The amendments aim to limit the coverage of officers requiring confirmation for appointment and to streamline documentary requirements.

Enforcement

UK HMRC Seizes Three NFTs in Fraud Investigation

20/02/2022

Three people were arrested on suspicion of attempting to defraud HMRC using 250 fake companies. This is the first time a UK agency has seized NFTs.