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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.
AML / KYC
Malaysian Court Convicts Wife of Najib Razak for Corruption
By Editors | 01/09/2022
Rosmah Mansor was convicted for taking bribes from a contractor in exchange for a government project to supply solar energy to rural schools.
AML / KYC
Iran Passes Law Authorising Use of Crypto for Imports
By Editors | 01/09/2022
The new law formally allows government and local businesses to use cryptocurrencies as payment for imports.
AML / KYC
MAS Fines UOBKH for Business Conduct, AML Failures
By Editors | 31/08/2022
UOBKH failed to implement adequate controls for its corporate finance business and to ensure it was subject to internal audit.
AML / KYC
Indian Banks Inconsistently Reporting Fraud Incidents to Regulator
By Editors | 31/08/2022
Kotak Mahindra Bank suggests such digital frauds are not being reported by other banks, making its own figures look disproportionately higher.
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