Fraud, Scams & Cybercrime

NAB Becomes First Aussie Bank to Remove Links From Text Messages

10/07/2023

The move is one of 64 projects completed or underway across NAB to help address the “global scam epidemic”.

Capital Adequacy

Hong Kong: New Regime for Insurers to Commence in 2024

06/07/2023

Capital requirements for insurers will be more sensitive to their asset and liability matching, risk profile and mix of products.

Market Abuse

ASIC Fines Openmarkets Record $4.5m for Compliance Failures

06/07/2023

ASIC says Openmarkets did not carry out effective trade surveillance, and banned its former acting head of trading for three years.

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.