AML / KYC

Australia Sets Out Beneficial Ownership Disclosure Policy for Unlisted Companies

09/12/2024

Beneficial ownership information will be accessible to journalists, academics, AML/CTF reporting entities, regulators and law enforcement.

Enforcement

HKMA Fines China CITIC Bank for Transaction Monitoring Deficiencies

08/12/2024

The HKMA said 13 out of a total of 33 detection rules and two core model rules had not been implemented as intended.

AML / KYC

Australia ACMA to Collaborate with UK Ofcom on Combatting Scams

08/12/2024

The ACMA and Ofcom will collaborate and share information to tackle the “pervasive scourge” of spam and scam communications.

Crypto / Digital Assets

Hong Kong Announces Gazettal of Stablecoins Bill

08/12/2024

The bill will implement a licensing and regulatory regime for issuers of fiat-referenced stablecoins. The first reading is set for 18 December.

Crypto / Digital Assets

Thai SEC Revises Capital Requirements for Crypto Firms

05/12/2024

The revised requirements aim to increase trust in the digital asset market and enhance investor protection.

ASIC Publishes Industry Complaints Data for the First Time

05/12/2024

ASIC says over 4.7 million complaints reported indicate that some financial firms may not be reporting complete and accurate IDR data.

AML / KYC

Australia Directs ACMA to Operate ‘Mandatory’ SMS Sender ID Register

05/12/2024

The ACMA is directed to develop an enforceable industry standard for a mandatory ‘SMS Sender ID Register’ to protect against scams.

ESG / Sustainability

New Zealand FMA Reviews First Climate Statements under CRD Regime

04/12/2024

The FMA is “encouraged” by the first climate statements filed by climate reporting entities and acknowledges the challenges they face.

AML / KYC

HKMA Announces Two New Anti-Scam Measures for Banks

04/12/2024

“Money Safe” will allow customers to segregate a portion of their deposits and protect it from fund outflows, similar to Singapore’s “Money Lock”.