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
AML / KYC
Taiwan FSC Fines Mega Bank $10mn for Fake Mortgages
09/06/2021
Mega Bank failed to detect over 28 mortgages applications that were made by dummy accounts due to poor internal controls.
Big Picture
BOE Issues Paper Exploring New Forms of Digital Money
09/06/2021
The BOE seeks feedback on the discussion paper as it examines how CBDCs and stablecoins could impact the financial system and wider economy.
Crypto / Digital Assets
China’s Weibo Blocks Selected Crypto Influencer Accounts
09/06/2021
The move follows joint action by three state-backed associations to bar their members from providing crypto-related services to customers.
AML / KYC
US DOJ Recovers $2.3mn of Ransom Paid to Colonial Pipeline Hackers
09/06/2021
Investigators were able to track multiple transfers of bitcoin by reviewing the Bitcoin public ledger, and subsequently seized 63.7 bitcoins.
AML / KYC
European Commission Proposes European Digital Identity Regulation
08/06/2021
To expedite the initiative, the European Commission has issued a recommendation for member states to establish a common toolbox by September 2022.
Crypto / Digital Assets
G7 Leaders Pledge to Develop Common Principles for CBDCs
07/06/2021
CBDCs should operate within appropriate privacy frameworks and minimise spillovers, the G7 Finance Ministers said in a communique.
AML / KYC
AUSTRAC Launches Formal Probe into NAB Over AML Breaches
07/06/2021
AUSTRAC said it is not considering civil penalty proceedings at this stage, a decision made based on the work undertaken by NAB to date.
AML / KYC
FSC Korea Meets Crypto Exchanges Over Regulatory Reforms
07/06/2021
The meeting focused on the operational difficulties faced by firms as they try to meet new regulatory requirements by a 24 September deadline.
Enforcement
Shenzhen, Guangzhou Order Microfinance Firms to Halt Property Lending
04/06/2021
Financial authorities in Guangzhou and Shenzhen have ordered microfinance companies to stop providing credit for estate assets and investments.
AML / KYC
FCA Extends Temporary Registrations Regime for Cryptoasset Firms
04/06/2021
A “significantly high number” of cryptoasset businesses are not meeting AML/CTF standards, a key part of obtaining registration with the FCA.
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