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AML / KYC
FFC Asia 2023: Industry Faces Challenges in Advancing Beneficial Ownership Transparency
By Ranamita Chakraborty | 14/07/2023
Panellists at Regulation Asia’s Fraud and Financial Crime Asia conference highlighted the need for improved availability and accuracy of beneficial ownership information.
Fintech / Regtech
FFC Asia 2023: Professional AI Skills Needed in Financial Crime Fight
By Ranamita Chakraborty | 13/07/2023
Panellists at Regulation Asia’s Fraud and Financial Crime conference stressed the need to up-skill financial sector professionals so they can use AI in fighting financial crime.
Big Picture
BIS Releases Three Reports Covering Crypto, Stablecoins, CBDC
By Manesh Samtani | 13/07/2023
One report says explains why crypto assets are ill-suited to play a significant role in the monetary system. The other two discuss CBDC progress.
Enforcement
FFC Asia 2023: HKMA Says Information Sharing Key to Fighting Fraud
By Karen Ng | 13/07/2023
HKMA says information sharing among banks will be key to tackling the new challenges in the fraud and financial crime landscape.
Big Picture
HKIMR Report Urges Focus on Financial Inclusion and Sustainable Innovation
By Editors | 13/07/2023
The report highlights the need for continuous investments in human capital and skills development to foster innovation.
Big Picture
Temasek Posts USD 5.5 Billion Net Loss on IFRS 9 Regulations
By Karen Ng | 12/07/2023
The Singapore government’s investment arm said its USD 5.46 billion net loss for the year ended March 2023 was due to the IFRS 9 requirement to account for unrealised mark-to-market losses on sub-20 percent investments.
AML / KYC
EU Central Banks Making Progress in Money Laundering Fight
By Ranamita Chakraborty | 12/07/2023
The European Banking Authority (EBA) called upon EU central banks and financial regulators to do more to tackle money laundering/terrorist financing risk despite having made tangible progress through prudential supervision.
Big Picture
Collateral Use Can Introduce Financial Stability Risks: BIS Officials
By Manesh Samtani | 12/07/2023
Using collateral reduces incentives for borrower screening and monitoring and can undermine the safe haven status of government securities.
Big Picture
RBI Panel Proposes Measures to Boost Rupee Internationalisation
By Mark Johnston | 10/07/2023
The panel proposes short, medium and long term measures to increase the use of the rupee in cross-border transactions.
AML / KYC
FATF to Bring “Fundamental Change” to Financial Crime Fight
By Karen Ng | 06/07/2023
FATF would scale up its fight against financial crime and bring comfort to victims through better asset recovery.
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