Fraud, Scams & Cybercrime

AUSTRAC Assesses Risk in Non-bank Lending & Financing Sector

29/06/2021

The main threat facing the non-bank lending and financing sector is fraud, particularly loan application fraud, identity fraud and welfare fraud.

Credit Risk

FSB Launches Review of Corporate Debt Workouts

29/06/2021

Feedback is invited from financial institutions, corporates, insolvency practitioners and other stakeholders in relation to out of court debt workouts.

CBDCs

MAS Launches Global Challenge for Retail CBDC Solutions

29/06/2021

Fintechs, financial institutions and solution providers from around the world are invited to submit innovative solutions that can address 12 problem statements.

Payments & Settlements

SWIFT’s Enhanced Platform Endorsed by Six Global Banks

29/06/2021

Bank of China, BNY Mellon, BNP Paribas, Citi, Deutsche Bank and Standard Chartered have confirmed their preparations for the enhanced platform ahead of the November 2022 go-live.

Credit Risk

Ant Group In Talks to Share Credit Data with SOEs

28/06/2021

The plan may resolve the PBOC’s long-standing concerns about a lack of visibility into the country’s consumer debt market.

Anti-Money Laundering

Australia: Senate Committee Calls for Submissions in AML Inquiry

27/06/2021

The inquiry will explore the adequacy and efficacy of Australia’s AML/CTF regime. The terms of reference have been published.

Fraud, Scams & Cybercrime

105 More Charges Laid Against Hin Leong Founder

27/06/2021

Lim Oon Kuin now faces a total of 130 charges, including 68 for cheating, 47 for abetment of forgery, and 14 for abetment for forgery for the purpose of cheating.

Conduct, Culture & Accountability

MAS Extends Financial Sector Training Support Measures

27/06/2021

The extensions will help Singaporeans continue to acquire in-demand skills and encourage FIs and fintechs to retain and upgrade staff capabilities.

Conduct, Culture & Accountability

CBIRC Issues New Qualification Rules for Insurance Executives

27/06/2021

Insurers need to seek approval from the CBIRC on the qualifications of directors, supervisors and senior managers starting 1 July.