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
Sustainable Finance
Bangladesh Bank Issues New CSR Guideline for Banks
21/01/2022
Banks and FIs should spend at 20 percent of their CSR funds on the environment and climate change mitigation and adaptation, up from 10 percent previously.
Structural Regulation
RBNZ, FMA Releases Finalised Framework for FMIs
21/01/2022
Changes from the consultation relate to the treatment of critical service providers and introduce discretion regarding the publication of material breaches.
Anti-Money Laundering
AUSTRAC Expands AML Probe of Star Casino Group to ‘Other Entities’
21/01/2022
AUSTRAC has advised Star that it has not yet made a decision regarding its regulatory response, including whether or not enforcement action will be taken.
Fraud, Scams & Cybercrime
FSC Taiwan Lowers Notification Threshold for Online Transactions
21/01/2022
Banks have six months to update their system to reflect the new TWD 3,000 threshold that will trigger notifications that an online card transaction has taken place.
Trading & Investment
Shanghai INE Opens Applications for New Market Makers
20/01/2022
Shanghai INE says new market makers must have net assets of no less than CNY 50 million or its equivalent in foreign currency.
Conduct, Culture & Accountability
Statewide Superannuation Fined for Overcharging, Misleading Members
19/01/2022
Statewide also reported its breaches to ASIC some 45 days late. The firm is required to undertake a remediation programme and engage an independent expert for review.
Fraud, Scams & Cybercrime
Russia Says REvil Hacking Group Has Been Dismantled
18/01/2022
Russia’s intelligence bureau raided 25 properties, detained 14 individuals, and seized cash, cryptocurrency and luxury vehicles.
Cryptocurrency
ASIC Warns Against Investing Super in Crypto Assets
18/01/2022
ASIC says individuals who set up self-managed super funds may be increasingly targeted by scammers to invest in crypto-assets.
Operational Risk
Hong Kong Anti Covid Restrictions Take Toll on Banks
18/01/2022
Banks including Goldman Sachs, Bank of America, Morgan Stanley and UBS are struggling to bring key executives into Hong Kong due to flight bans.
Anti-Money Laundering
KoFIU Unveils AML Supervision & Inspection Plan for 2022
18/01/2022
KoFIU will begin inspections on VASPs, financial institutions, casinos and mutual finance companies starting February.
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