Sanday Chongo Kabange

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    Sanday Chongo Kabange is an experienced multimedia journalist and a contributor to Regulation Asia. He focuses on compliance, regulatory and legal issues for financial services.

    Articles by Sanday Chongo Kabange

    Crypto / Digital Assets

    NYDFS Issues Guidance on Crypto-Related Activities for Banks

    19/12/2022

    New York regulated banks, as well as branches and agencies of foreign banks licensed by the NYDFS, need prior approval to engage in virtual currency-related activities.

    Market Infrastructure

    ASX Commits to Providing Certainty on Stability of CHESS

    16/12/2022

    ASIC and the RBA asked ASX to issue a special audited report detailing arrangements to ensure the stability, security and resilience of the existing CHESS system.

    AML / KYC

    Danske Bank to Pay $2bn to Resolve DOJ, SEC Probes

    15/12/2022

    Danske Bank admitted to allowing high-risk non-resident customers from other countries including Russia to use its Estonia branch to access US banks.

    Enforcement

    UK FCA Fines Metro Bank for Incorrect RWA Disclosure

    14/12/2022

    The bank published incorrect information concerning its risk-weighted assets and did not disclose the error to investors despite knowing it was wrong.

    Fintech / Regtech

    FSC Korea Unveils New Support Measures for Fintech Startups

    14/12/2022

    The measures include new funding for innovative firms, regulatory relaxations, and improvements to the sandbox programme.

    ASIC Directs Super Funds to Improve Complaints Handling

    14/12/2022

    Superannuation trustees are not responding to complaints in a timely manner and are failing to notify consumers of their right to approach AFCA.

    AML / KYC

    FTX Founder Arrested, Charged by SEC, SDNY, CFTC

    14/12/2022

    US authorities have charged Sam Bankman-Fried for defrauding customers, investors, lenders, and campaign finance violations.

    Fintech / Regtech

    India to Standardise Icons Used in Payment Apps to Curb Fraud

    08/12/2022

    Project Pratima aims to introduce a uniform set of icons for basic payment actions and processes, curb fraud, and boost digital payments adoption.

    Crypto / Digital Assets

    Europol Issues Recommendations on Crypto-related Money Laundering

    08/12/2022

    Europol recommends close cooperation between enforcement bodies and crypto providers to curb associated crime and money laundering.

    AML / KYC

    AUSTRAC Launches Federal Court Proceedings Against SkyCity

    08/12/2022

    The proceedings against SkyCity are the third AUSTRAC has brought against casino operators, after similar cases were launched against Star and Crown casino entities.

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