PEPs & Sanctions

UK Requires Crypto Firms to Report Sanctions Breaches

26/07/2022

New regulations will require crypto exchanges and wallet providers to comply with OFSI’s reporting obligations from 30 August 2022.

Fraud, Scams & Cybercrime

Korea: Terra Investigators Seize Records from Crypto Firms

26/07/2022

Prosecutors have seized transaction records from seven crypto exchanges and some of their affiliates as part of a probe into Terra’s collapse.

Resolution & Recovery

HKMA Finalises Guidance on Resolution Planning Expectations

26/07/2022

Resolution planning work will be prioritised for D-SIBs and other locally incorporated banks with total consolidated assets of more than HKD 150 billion.

Payments & Settlements

China Expands FX Management Autonomy for Multinational Firms

26/07/2022

The PBOC and SAFE have expanded a pilot programme that allows multinational companies to pool domestic and foreign currency funds.

Data Privacy

China to Standardise Data Transmission by Securities Firms

26/07/2022

Many securities firms are still using manual processes to transmit data used by fund custodians, managers and fund service institutions for valuation and accounting purposes.

Cryptocurrency

South Korea Deferred Crypto Tax Plans Two Years

25/07/2022

The plan to tax crypto was deferred due to stagnant market conditions and a desire to first improve investor protections in the crypto sector.

Trade Based Money Laundering

Panel 2: Disrupted Trade: Supply Chains, Global Security, and Money Laundering

25/07/2022

This panel discusses the pressures supply chains are under due to trade restrictions, sanctions, and pandemic-related disruptions.

PEPs & Sanctions

Panel 1: Redefining Risk: Sanctions and the Global Battle Against State-Backed Bad Actors

25/07/2022

This panel will discuss opportunities this presents to crack down on corruption and illicit financial flows, as the global tide turns against kleptocracy.

Anti-Money Laundering

Regulatory Keynote: Innovative Ways of Working in AML/CFT

25/07/2022

The keynote address at Fraud & Financial Crime Asia 2022 was delivered by Carmen Chu, Executive Director (Enforcement and AML) at the HKMA.