AML / KYC

Australia to Roll Out ‘Confirmation of Payee’ in Early 2025

09/08/2024

SWIFT has been selected to develop a central matching service to underpin the ‘confirmation of payee’ services at Australian banks.

Enforcement

Ex-China Forestry Execs Found Culpable of Market Misconduct

08/08/2024

Former CEO and former chairman culpable for disclosing false information in China Forestry’s IPO prospectus, annual results, and annual report in 2008 and 2009.

AML / KYC

HKMA Issues Circular on Changes to Tax Reporting Jurisdictions

08/08/2024

The HKMA said banks are expected to treat customers fairly and minimise their burden when reporting their tax information.

Crypto / Digital Assets

Australian Police Obtain New Intelligence on Crypto Scams

08/08/2024

The AFP identified over 2,000 compromised crypto wallets belonging to Australians by participating in a global anti-scam initiative launched by Chainalysis.

Market Infrastructure

BSP Unveils 5yr Financial Services Cyber Resilience Plan

08/08/2024

The plan set out key goals, priority actions and milestones to be achieved between 2024 to 2029 to enhance industry resilience against cyber threats.

Crypto / Digital Assets

Mox Becomes First HK Virtual Bank to Offer Crypto ETFs

08/08/2024

Mox customers can invest in bitcoin and ether ETFs listed in Hong Kong and the US via the bank’s mobile app.

BSP Launches New Online Financial Literacy Initiative

07/08/2024

The ‘BSP E-Learning Academy’ seeks to broaden the reach of financial education and strengthen consumer protection.

Fintech / Regtech

HKMA Consults on Renaming ‘Virtual Banks’ as ‘Digital Banks’

07/08/2024

HKMA also published the results of its review of the industry, saying the requirement for virtual banks to primarily deliver retail banking services will be removed.

Enforcement

Malaysia SC Fines Fund Consultant for Breaching Securities Laws

06/08/2024

The former Kenanga Investors Berhad consultant misappropriated investor funds and provided falsified statements of accounts.