Enforcement

Mizuho Stops Accepting New Safe Deposit Box Customers

22/01/2025

The decision comes after an MUFG employee was arrested for stealing customers’ assets, putting the industry under heightened scrutiny

AML / KYC

Japan FSA Offers Guidance on Validating AML Effectiveness

22/01/2025

New discussion paper emphasises the importance of continuous validation to ensure AML/CFT measures remain effective against evolving risks

Enforcement

Australia to Bolster Enforcement Powers of ACMA

21/01/2025

Maximum penalties for breaches of industry codes and standards will be raised from A$250,000 to A$10mn.

Fintech / Regtech

China Releases Reports on US Cyberattacks on Two Major Entities

21/01/2025

The targeted entities included an advanced materials research institute, and a large technology firm in the smart energy and digital information industry.

Crypto / Digital Assets

UK FCA Commits to Relaxing Rules to Drive Economic Growth

21/01/2025

FCA Chief Executive Nikhil Rathi said the regulator will make growth will be a fundamental pillar of its strategy through to 2030

Capital / Liquidity

UK Delays Basel III Implementation Amid US Uncertainty

21/01/2025

The PRA said Basel III implementation will be delayed an additional year until January 2027. The EU is now considering its options.

ESG / Sustainability

IESBA to Develop New Governance Framework for Accounting Firms

21/01/2025

The framework will be designed to promote, support and reinforce a high standard of ethical behaviour at accounting firms

Crypto / Digital Assets

Illicit Activity in Crypto is Decreasing, TRM Labs Finds

20/01/2025

Illicit activity in crypto decreased in 2024 as a proportion of total transactions, but ransomware, fraud, and sanctions related threats continue to persist

Enforcement

Amex to Pay $230mn to Settle Case Over Deceptive Sales Practices

19/01/2025

American Express sales employees misrepresented the tax benefits of certain products and used false employer identification numbers to open accounts