Enforcement

ACCC Fines HSBC for Disclosing Inaccurate CDR Data

03/04/2024

HSBC failed to disclose complete mortgage interest rate details and accurate credit card balances in response to separate requests for this data made via the CDR.

Capital / Liquidity

Indonesia Formally Ends Pandemic Support Measures

03/04/2024

The OJK said Indonesia’s economy has recovered from the pandemic and banks have strong capital, sufficient liquidity and good risk management.

AML / KYC

FinCEN Considers Changes to CIP Rule to Modernise AML/CFT Regime

02/04/2024

FinCEN is considering changes to requirements for banks to collect a full Social Security number from customers during onboarding.

HKMA Announces Nine New Measures to Support SMEs

02/04/2024

The measures will enhance the financing support for SMEs and make it easier for them to compare, select offerings from, and switch to different banks.

AML / KYC

AMLC Names and Shames DNFBPs That Have Failed to Register

01/04/2024

The AMLC named one real estate developer and ten jewelry dealers that have failed to comply with their registration obligations.

Enforcement

HK Court Jails Former AXA Agents for Fraud, Money Laundering

01/04/2024

The three former AXA insurance agents were sentenced for defrauding AXA of commissions and bonuses and for laundering the proceeds.

Australia Consults On Designated Complaints Function Within ACCC

31/03/2024

Designated consumer and small business advocates will be able to submit a complaint to the ACCC about a systemic market issue.

Australia Tables New Financial Advice Legislation in Parliament

30/03/2024

The legislation is part of a broader package of reforms aimed at increasing the accessibility and affordability of financial advice.

BNM Updates Policy to Ensure Fair Treatment of Vulnerable Consumers

30/03/2024

The revised policy document introduces specific requirements for financial service providers on the fair treatment of vulnerable consumers.