AML / KYC

FATF Releases New Report on Trade-based Money Laundering

09/12/2020

A key finding of the report is that greater awareness about all aspects of the trade process would likely increase opportunities to detect and disrupt TBML.

Big Picture

Financial Services Driving Growth in Singapore Blockchain Use

09/12/2020

The Singapore Blockchain Ecosystem Report 2020 says the use of blockchain in Singapore’s financial sector is driven by industry collaboration to address common pain points.

AML / KYC

AUSTRAC Publishes AML/CTF Guidance for Remittance Providers

09/12/2020

AUSTRAC provides guidance on conducting an ML/TF risk assessment, providing risk awareness training to staff, and fulfilling reporting obligations, among others.

APRA Proposes Potential Changes to Credit Risk Management Standard

09/12/2020

Amendments, including an earlier implementation date, will be necessary if the government’s proposed consumer credit reforms are passed as legislation.

Capital / Liquidity

BOT Eases Rules on Bank Capital to Promote Lending

09/12/2020

The move will increase the levels of capital and liquidity at commercial banks and facilitate lending to businesses and households.

AML / KYC

ANZ, Deutsche, Citigroup Face Trial Over Criminal Cartel Case

09/12/2020

The banks are alleged to have colluded on how to offload ANZ shares in 2015 by restricting supply to maintain market prices.

Capital / Liquidity

APRA Revises Bank Capital Framework to Add Flexibility

09/12/2020

The reforms will deliver a “robust, competitive banking system” that can continue to fulfil its critical role when the community faces challenges, APRA’s Wayne Byres said.

Capital / Liquidity

RBNZ Consults on Reinstatement of LVR Restrictions on Risky Lending

09/12/2020

The RBNZ is concerned that increases in highly-leveraged borrowing, if continued, could lead to emerging risks to financial stability.

Market Infrastructure

PBOC Launches Cyber Info Sharing Platform for Financial Sector

09/12/2020

The platform was built by ICBC, China Construction Bank and other FIs, to improve industry cyber defences and prevention capabilities.