Fraud, Scams & Cybercrime

India: Former Chair of Coop Bank Arrested on Fraud Allegations

06/07/2023

India’s Enforcement Directorate arrested the ex-chairman of Seva Vikas Co-operative Bank in connection with a fraud investigation.

Trading & Investment

Bursa Malaysia Assumes Investor Relations Function

06/07/2023

Bursa Malaysia will serve as the single point of reference for investor relations matters. MIRA is discontinued.

Payments & Settlements

RBI to Require Card Issuers to Offer Network Optionality

06/07/2023

Banks and other card issuers will have to provide options for customers to freely choose which card networks processes their payments.

Fraud, Scams & Cybercrime

FMA Imposes Permanent Stop Order on Validus International

05/07/2023

The permanent stop order bars Validus and its associated persons from offering or promoting its financial products to New Zealanders.

Cybersecurity

APRA Reveals Early Results from Cybersecurity Assessments

05/07/2023

APRA identified six common control gaps in the first tranche of CPS 234 assessments, and offers recommendations to address them.

Anti-Bribery & Corruption

Seoul Police Probes Suspected Illegal Payments at Kakao Pay

05/07/2023

Kakao Pay is alleged to have received illegal subsidies from NICE Information & Telecommunication, a leading value-added network operator.

Capital Adequacy

Cambodia Issues New Rules on Capital Adequacy, Credit Risk

05/07/2023

The NBC says the new rules will incentivise lenders to release more loans to businesses and ensure finance is available at “reasonable interest rates”.

Cybersecurity

SEBI Consults on Consolidated Cyber Resilience Framework for REs

05/07/2023

The new draft master framework, open for consultation until 25 July, consolidates 15 individual circulars on cybersecurity issued since 2015.

Operational Risk

APRA Fines BNK Banking Corp for Late Reporting of EFS Data

04/07/2023

APRA said BNK Banking Corporation was 32 days late in filing statistical reports for the month ending 28 February 2023.