APRA Wants Banks to Be Ready for Potential Negative Rates

14/07/2021

APRA proposes to introduce new expectations for banks requiring them to prepare for scenarios where interest rates fall to zero or turn negative.

AML / KYC

Philippine AMLC Directs Banks to Implement Freeze Orders ‘Immediately’

13/07/2021

Some covered persons commence implementation of freeze orders with only a few days remaining before the expiry of the period prescribed, the AMLC says.

AML / KYC

Covid-19 Forced Companies to Short-cut KYC, Due Diligence

13/07/2021

A new Refinitiv report has found that Covid-19 substantially increased customer and third-party risks. Yet it also increased focus on ESG and green crime.

ABA Commissions Review of Banking Code of Practice

13/07/2021

The review seeks input on whether CDR laws provide adequate data protection and how effective the Code has been in supporting consumers during Covid-19.

AML / KYC

NZ Issues AML/CFT Advisory On Sight Unseen Property Purchases

13/07/2021

Sight unseen real estate purchases are an attractive method of money laundering and terrorism financing, the Department of Internal Affairs says.

AML / KYC

Hong Kong Records Drop in Corruption Complaints in 2020: ICAC

12/07/2021

Corruption complaints concerning the finance and insurance subsectors registered the highest drop among all subsectors.

AML / KYC

AMLC Examines Philippine Exposure to Tax Crimes

12/07/2021

The study was conducted in light of the recent AML Act amendment which included the commission of tax crimes in the list of predicate offences for money laundering.

Fintech / Regtech

New Zealand to Establish Consumer Data Right Framework

12/07/2021

The government will look to align New Zealand’s CDR system with the Australian model, rolling it out on a sector-by-sector basis.

Securities / Derivatives

Indonesia Launches First Electronic Market for Rupiah Trading

11/07/2021

The launch of Refinitiv’s Matching trading system is expected to increase liquidity, efficiency and price transparency.