Fraud, Scams & Cybercrime

Hong Kong AFRC Fines PwC, Two Auditors Over Deficient Audits

16/10/2025

The AFRC says the sanctions relate to multiple, pervasive audit deficiencies in the 2010 and 2011 audits of Hong Kong-listed Dynasty Fine Wines Group Limited.

Anti-Money Laundering

AUSTRAC to Get Additional Powers to Combat Crypto ATM Crimes

16/10/2025

New legislation will empower AUSTRAC to restrict or prohibit high-risk products and give banks new tools to disrupt money mule accounts.

AI Risk & Governance

Finance Sector Risks Losing Public Trust Over AI Ethics, Report Warns

16/10/2025

A new report by the ACCA and the CISI urges action on skills and governance, highlighting risks from 'black box' algorithms, audit automation and undisclosed data sharing.

Climate Risk

ASEAN Banks' Climate Pledges Undermined by Gaps in Fossil Fuel Policy

16/10/2025

A new report shows progress on governance and targets, but slow implementation of coal phase-out policies and weak restrictions on oil and gas financing.

Fraud, Scams & Cybercrime

Japan FSA Mandates Phishing-Resistant MFA for Online Brokers

16/10/2025

New rules require default phishing-resistant authentication for key operations and ban login links in emails to combat rising fraud.

Clearing & Post-Trade

HKEX Clearing Arm Invites Firms to Join 'Authorised Brokers' Panel

16/10/2025

HKSCC is selecting up to 10 firms for a three-year term to execute transactions on its behalf. Applicants must have at least HKD 100 million in liquid capital and China Connect capabilities.

AI Risk & Governance

HKMA Announces Second Cohort of GenAI Sandbox Participants

16/10/2025

The cohort includes 27 use cases from 20 banks, with a focus on AI governance and using AI to test systems against sophisticated fraud.

Anti-Money Laundering

Australia Moves to Single Public Register for Beneficial Ownership

16/10/2025

The government has streamlined its approach, scrapping a two-stage plan in favour of a direct, Commonwealth-operated public database for unlisted companies.

Cybersecurity

Japan Launches Latest Cross Industry Cybersecurity Exercise with 177 Firms

15/10/2025

This 10th annual exercise includes drills for data breaches, asset outflows, and a 'blind' scenario for banks to test industry resilience.