AML / KYC

HKMA Fines WeChat Pay for AML Control Deficiencies

02/09/2024

WeChat Pay had control deficiencies in its process for undertaking CDD reviews and applying EDD measures.

Enforcement

ASIC Fines CLSA for Providing Incorrect Regulatory Data

30/08/2024

The failures arose from a change to CLSA’s global order management system that was “not adequately scoped and tested” before implementation.

Crypto / Digital Assets

HSBC Completes 3 PoC Use Cases in Project Ensemble Sandbox

30/08/2024

The three PoC use cases involve digital bonds, interbank transfers of tokenised deposits, and eBL settlement via tokenised deposits.

Market Infrastructure

Australia Issues New Anti-Foreign Bribery Guidance

29/08/2024

The guidance sets out six elements that should be included by corporations in their anti-bribery compliance programmes.

Enforcement

New Zealand Court Fines TSB Bank for Overcharging Customers

29/08/2024

The Commerce Commission took legal action against TSB Bank for overcharging 48,000 customers between 2015 and 2021.

Crypto / Digital Assets

HKMA Launches New Sandbox for Tokenised Asset Transactions

29/08/2024

The Project Ensemble Sandbox will facilitate interbank settlement using tokenised money for transactions involving tokenised assets.

Capital / Liquidity

APRA Sets Priorities for Ensuring Financial System Resilience

28/08/2024

APRA’s new corporate plan aims to ensure the financial and operational resilience of regulated entities, while also responding to new risks.

Fintech / Regtech

Westpac to Expand Anti-Scam Feature to Institutional Clients

28/08/2024

Westpac’s institutional and government clients will be able to run a check on payee details before making payments.

Fintech / Regtech

CBA, BNY Enable Real-Time Cross-Border Payments

27/08/2024

The new arrangement enables the AUD leg of inbound cross-border payments to be processed in under a minute.