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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.

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    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.

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    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.

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    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.

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    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.

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    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.

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    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.

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    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.

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    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.

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    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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