Enforcement

Australia: Hackers Accessed Data of 4m Customers, Medibank Admits

26/10/2022

Medibank does not have cyber insurance, and is expected to face investor class actions, on top of lawsuits from angry customers and likely fines.

AML / KYC

FATF Blacklists Myanmar, Sidelines Russia, De-lists Pakistan

23/10/2022

Myanmar is on the FATF “blacklist” alongside Iran and North Korea. Pakistan was removed from the “grey list”.

Fintech / Regtech

MAS Proposes to Raise Caps Imposed on E-Wallets

21/10/2022

Besides raising the caps, MAS also proposes to introduce an exemption to allow for ‘white labelling’ of e-wallet accounts.

AML / KYC

Japan Authorities Warn Crypto Firms of Lazarus Group Threat

20/10/2022

An advisory calls on crypto firms to strengthen their security controls, and implement staff and user training programmes.

Crypto / Digital Assets

Hong Kong Leader Announces Measures to Revitalise City

20/10/2022

Lee’s administration will work to speed up the implementation of mutual market access arrangements with the mainland, among other measures.

Securities / Derivatives

HKEX Proposes New Listing Regime for Specialist Tech Firms

20/10/2022

The regime is designed to enable specialist technology companies in five frontier industries to list on the Hong Kong bourse.

AML / KYC

Canada, Switzerland Sanction More Russians, EU Considers 9th Package

19/10/2022

The next round of EU sanctions could include limits on LPG imports, more restrictions against Russian banks, and a ban on the sale of European real estate to Russians.

AML / KYC

Hong Kong Seeks Status as Global Hub for Virtual Assets

17/10/2022

A new policy statement to be issued at Hong Kong FinTech Week may spell out plans to include retail investors in the city’s VASP regime.

Crypto / Digital Assets

Tether Eliminates Commercial Paper from Stablecoin Reserves

15/10/2022

“Reducing commercial papers to zero demonstrates Tether’s commitment to backing its tokens with the most secure reserves in the market,” the company said.