Custody & Infrastructure

Blockchain Groups Form New ASEAN Consortium to Drive Adoption

27/04/2021

Members include blockchain associations in Singapore, Indonesia, the Philippines, Malaysia, Thailand and Australia.

Anti-Money Laundering

Mitigating Illicit Convergence in Transnational Financial Crime

27/04/2021

Rani Hong, Sasha Lezhnev, Ben Spevack and Che Sidanius discuss efforts under way to prevent the illicit exploitation of legal infrastructures for crime.

Tokenisation

DBS Goes Live on Trade Finance Network Contour

27/04/2021

Digital LC capabilities will be offered in Australia, China, Hong Kong and Singapore via Contour from this month.

Resolution & Recovery

BSP Asks D-SIBs to Submit Recovery Plans Separate from ICAAP

27/04/2021

Separate submission will allow the BSP to better assess recovery plans on an institutional level and across D-SIBs, particularly during times of crisis.

Operational Risk

Taiwan FSC Directs LINE Bank to Conduct Stress Tests

26/04/2021

LINE Bank services crashed on Thursday due to “system overload” just as it launched new digital banking services.

Reporting & Disclosures

Environmental Disclosure a Focal Point for Singapore FIs: Study

26/04/2021

Financial institutions in Singapore place significant importance on ESG performance, with a heavy focus on climate considerations.

Data Privacy

RBI Restricts Amex, Diners Club for Data Storage Violations

26/04/2021

American Express and Diners Club were found to be non-compliant with the RBI’s 2018 directions requiring payment system data to be stored onshore.

Supervision & Enforcement

Korea FSS Imposes Light Punishments on Shinhan Execs

26/04/2021

Shinhan Bank’s CEO and Shinhan Financial Group’s Chairman received lighter punishments than expected over the Lime mis-selling scandal.

Fraud, Scams & Cybercrime

SG Police Lay More Charges in Nickel Trading Fraud Case

26/04/2021

Ng Yu Zhi allegedly cheated five individuals into paying around S$8.8mn for nonexistent forward contracts purported to be for the sale of nickel to a metals trader.