Fraud, Scams & Cybercrime

HKMA Directs Banks to Enhance Protections for Payment Card Customers

21/06/2023

Banks are directed to comply with new guidance by end June 2023. For enhancements that require system changes, banks should comply within six months.

Payments & Settlements

RBNZ Considers Expanding Access to Settlement Accounts

19/06/2023

The RBNZ is seeking feedback on a framework to assess the risks of opening up access to the Exchange Settlement Account System.

Supervision & Enforcement

APRA Fines OnePath Custodians for Breaching Superannuation Law

19/06/2023

OnePath Custodians failed to direct 125 default member contributions to a MySuper product as required by the law.

Fraud, Scams & Cybercrime

US FDIC Orders OKCoin to Stop Advertising Deposit Insurance

19/06/2023

Crypto firm OKCoin is directed to “immediately” remove misleading statements about deposit insurance or face enforcement action.

Cryptocurrency

NYAG Penalises CoinEx $1.8m for Failure to Register

19/06/2023

CoinEx must implement geoblocking to prevent New York IP addresses from accessing its platform.

Clearing & Post-Trade

Global Consortium Executes First “Quantum-Secure” Trade Transaction

19/06/2023

The trade parties utilised IMDA’s ‘TradeTrust framework’ and placed a quantum-secure ‘seal’ on the electronic trade documents.

Trading & Investment

DBS Launches New Multi Family Office Platform for UHNW Families

19/06/2023

The new platform is established as an umbrella VCC, with multiple underlying sub-funds that clients can use to manage their assets.

Structural Regulation

Korea Probes Four Banks for Possible Collusion on Rates

15/06/2023

The Fair Trade Commission conducted inspections at Kookmin Bank, Hana Bank, Shinhan Bank and Woori Bank.

Tokenisation

Korea Securities Depository to Establish Security Token Platform

15/06/2023

The KSD will set up a securities token platform and play the role of screening registrations of such digital assets.