Sanday Chongo Kabange
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
Enforcement
CSRC Penalises Yongcheng Coal, Executives for Fraud
05/08/2021
Yongcheng Coal and its executives were fined for fraudulent disclosures and for inflating its books. The company defaulted on a CNY 1 billion bond last year.
Market Infrastructure
RBI Issues Outsourcing Framework for Payment System Operators
05/08/2021
Payment system operators may not outsource core management functions such as risk management, internal audit and KYC compliance.
AML / KYC
Singapore: Woman Jailed for Helping to Launder Scam Proceeds
05/08/2021
Rohaiza Alap provided 25 bank accounts to scammers to launder S$2mn out of Singapore. She also recruited others to act as money mules.
Securities / Derivatives
CSRC Promises Increased Predictability of Policy Measures
04/08/2021
The CSRC says it will seek closer cooperation with the US SEC and enhance the transparency and predictability of policy measures.
AML / KYC
Bangladesh Bank Reiterates Ban on Cryptocurrency
04/08/2021
Bangladesh Bank sought to clarify its stance after reports emerged suggesting that crypto transactions are only illegal if they are linked to other crimes.
Fintech / Regtech
New BIS Paper Calls for Concrete Guidance on AI
04/08/2021
Common themes on AI governance create scope for the development of international guidance or standards, says a new paper from the Financial Stability Institute.
Crypto / Digital Assets
PBOC Sets Out Action Plan for Second Half of 2021
04/08/2021
Key focus areas include promoting a greener financing system, resolving major financial risks, promoting financial opening-up, and cracking down on crypto trading.
AML / KYC
Australian Mining Magnate Charged Over A$38.5m Tax Evasion
03/08/2021
The founder of a mining software and equipment company did not disclose overseas trust assets and evaded income tax over 15 years.
AML / KYC
Philippine AMLC Issues Guidance on TFS Delisting, Unfreezing Orders
02/08/2021
Designated persons shall apply to the AMLC for authorisation if they wish to deal with or access funds or assets that are frozen due to targeted financial sanctions.
Enforcement
CBIRC Fines Eight Lenders Over Property Loan Violations
02/08/2021
China Construction Bank received the biggest penalty of CNY 6.1 million. ICBC and Agricultural Bank of China were fined CNY 1.5 million each.
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