Credit Risk

Chinese Banks Act Against Credit Risk Exposure – Report

04/01/2024

Some large Chinese banks are critically assessing small banks to identify those with poor asset quality and high risk of default.

Anti-Money Laundering

Philippines Directs DNFBPs to Tighten Suspicious Transaction Reporting

02/01/2024

Amended AMLC guidelines say no administrative, criminal or civil proceedings shall lie against any person for filing CTRs or STRs in good faith.

Fraud, Scams & Cybercrime

FSS Korea Fines BNK Kyongnam Bank for Employee Misconduct

02/01/2024

Former branch manager opened a securities account using his mother-in-law’s name and forged signature, and used it to place 193 stock trades.

Climate Risk

HKMA Study Assesses Climate Risks of HK-domiciled Funds

29/12/2023

The study found that the climate risk of HK-domiciled funds is “in line with funds domiciled in other Asia-Pacific economies.”

Fraud, Scams & Cybercrime

Hong Kong MPFA Calls for Action to Guard Against Fraud

23/12/2023

The MPFA issued two circulars offering guidance to MPF intermediaries and MPF trustees on guarding against fraudlent activities.

Payments & Settlements

RBA Sets Expectations for Enhanced Debit Card Market

22/12/2023

The RBA wants all industry participants to support token portability and token synchronisation by June 2025.

Structural Regulation

HK AFRC to Start Inspections of Mainland Auditors of HK-Listed Entities

22/12/2023

Under a partnership with Chinese authorities, the AFRC will start to inspect engagements involving audit working papers located on the Mainland.

Fraud, Scams & Cybercrime

ICAC Secures Guilty Pleas from Ex-StanChart Bankers Who Defrauded Investors

21/12/2023

Two former Standard Chartered relationship managers pleaded guilty to conspiracy to defraud. Three other defendants will stand trial in July 2024.

Conduct, Culture & Accountability

HKMA Issues Guidance for Banks on Digital Marketing

21/12/2023

Banks are asked to review their digital marketing activities for general banking products to ensure consumer protections are in place.