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AML / KYC
HK Banks Extend Fraud Alerting Service to Counter Transactions
By Editors | 02/08/2024
HKMA said customers will receive fraud risk alerts regardless of whether a transfer is conducted at a branch or through online channels.
Securities / Derivatives
SEBI Proposes Change to Granular Disclosure Rules for FPIs
By Ajoy K Das | 02/08/2024
The proposal will reduce the risk of hidden control by entities from land bordering countries, without requiring FPIs to disclose each and every owner.
AML / KYC
China Proposes to Introduce National Cyberspace IDs
By Manesh Samtani | 01/08/2024
Cyberspace IDs would minimise the collection of personal information by internet platforms, the MPS and CAC said.
AML / KYC
ACCC to Create 2nd NASC Fusion Cell to Target Job Scams
By Sanday Chongo Kabange | 01/08/2024
The fusion cell will work with social media platforms, recruitment agencies, financial firms and law enforcement to disrupt job scams.
Fintech / Regtech
RBI Issues New Anti-Fraud Rules for Non-bank Payment Systems
By Ajoy K Das | 01/08/2024
The new master direction includes requirements to establish real-time fraud monitoring solutions and multi-factor authentication for all payment transactions.
AML / KYC
Details Revealed on Chinese Scam Operated from Isle of Man
By Manesh Samtani | 01/08/2024
The case is the first known where Chinese nationals operated a pig-butchering scam from a Western country to con victims in China.
AML / KYC
Westpac, Optus Launch New Anti-scam Capability
By Sanday Chongo Kabange | 31/07/2024
Westpac launched a new in-app calling capability to protect customers from scammers trying to impersonate the bank.
AML / KYC
MAS Tightens Licensing Requirements for Payment Services
By Ranamita Chakraborty | 31/07/2024
Applicants must submit a legal opinion, an independent assessment report by an external auditor, and have a governance structure for compliance and AML/CFT oversight.
AML / KYC
Fed Terminates Enforcement Action Against Silvergate Bank
By Editors | 31/07/2024
The enforcement action has been in effect since May 2023 to protect depositors. Silvergate has since completed its liquidation and wind-down plan and paid back depositors.
AML / KYC
Regulating GenAI: New Tools, Old Challenges
By Bradley Maclean | 30/07/2024
Striking the right balance between automation and human expertise is vital to ensure the effective use of GenAI technology.
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