AML / KYC

    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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