AML / KYC

    AML / KYC

    China: Liaoning Officials Probed Following Two Bank Failures

    By Editors | 06/09/2022

    Among them, two CBIRC officials are accused of failing in their supervisory duties and for accepting bribes in exchange for favours.

    AML / KYC

    US Fed Ends HSBC 2012 Deferred Prosecution Agreement

    By Editors | 06/09/2022

    HSBC welcomed the decision, saying its employees have worked hard over the last decade to transform the bank’s financial crime risk management capabilities.

    AML / KYC

    RBI Issues New Guidelines on Digital Lending

    By Sanday Chongo Kabange | 06/09/2022

    The guidelines are applicable to existing customers availing fresh loans and new customers getting onboarded. Existing digital loans must be in compliance by 30 November.

    Securities / Derivatives

    SFC Suspends Rifa Futures Exec Over ‘Xinguanjia’ Trading Software

    By Editors | 06/09/2022

    In July, Rifa Futures became the fourth firm to be fined over the use of Xinguanjia. The firm’s managing director has now been suspended for 8 months.

    AML / KYC

    BSP Rolls Out New Cyber Risk Management Software at FIs

    By Editors | 06/09/2022

    The software will streamline and automate regulatory supervision, reporting and compliance assessment of banks’ cybersecurity risk management.

    AML / KYC

    Gold Producer Becomes Second Russian Firm to Issue CNY Bonds

    By Editors | 05/09/2022

    Russia is now in third place on a list of non-mainland jurisdictions using the yuan for global payments, after Hong Kong and the UK.

    Enforcement

    Korean Authorities Arrest 16 Over Illegal FX Transactions

    By Editors | 05/09/2022

    In some cases, funds were remitted overseas via commercial banks, disguised as payments for trade businesses to exploit the “Kimchi premium”.

    Securities / Derivatives

    Russia Bond CDS Auction to Be Held on 12 September

    By Editors | 04/09/2022

    The amounts holders of CDS on Russian debt are likely to receive has reportedly dropped by about a third since early June.

    AML / KYC

    German Prosecutors Raid JP Morgan as Part of Cum-Ex Probe

    By Editors | 04/09/2022

    Around 1,500 people are currently under investigation across 50 international and domestic financial institutions and brokers.

    Crypto / Digital Assets

    FBI Calls on DeFi Platforms to Bolster Safeguards Against Theft

    By Editors | 04/09/2022

    DeFi platforms are asked to institute real time analytics, monitoring, rigorous code testing, and incident response plans.

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