KYC & CDD

Data Privacy

HKMA Announces New Data Linkage to Boost SME Finance

By Sanday Chongo Kabange | 27/08/2024

Banks can access information on SMEs from Hong Kong’s Companies Registry via HKMA’s CDI platform.

KYC & CDD

Taiwan Banks to Allow Companies to Open Accounts Digitally

By Editors | 26/08/2024

The FSC said banks should allow “all types” of non-individual clients to open digital deposit accounts, provided appropriate verification, controls and monitoring are in place.

Structural Regulation

SEBI Proposes to Allow Self-attestation of Certain Documents

By Ajoy K Das | 25/08/2024

SEBI proposes to stop requiring notarisation or certification for certain documents as this raises the cost and compliance burden for businesses and individuals.

PEPs & Sanctions

Most Kyrgyz Banks Have Suspended Money Transfers to Russia

By Editors | 25/08/2024

13 of 16 Kyrgyz banks have halted transfers to Russian lenders via their mobile apps. The central bank said this is to “prevent the negative impact of international sanctions”.

Fraud, Scams & Cybercrime

Korean Financial Institutions Launch Credit Transaction Blocking Service

By Editors | 24/08/2024

Consumers can register for a financial system-wide block on credit transactions to protect their accounts from being used for fraudulent loans.

Fraud, Scams & Cybercrime

Singapore CPF Lowers Online Withdrawal Limit to Deter Scammers

By Nithya Subramanian | 23/08/2024

The maximum online daily withdrawal limit will be reduced from S$200,000 to S$50,000 to introduce more friction against scams.

Custody & Infrastructure

SFC Finds ‘Unsatisfactory Practices’ at Some Crypto Firms

By Editors | 23/08/2024

The SFC found an overreliance on just a few executives for custody and inadequate safeguards against cybercrime risks.

Fraud, Scams & Cybercrime

BNM Launches Integrated Platform to Help FIs Combat Fraud

By Jaya Prakash Balakrishnan | 22/08/2024

The platform allows automated fund tracing and recovery, information sharing and collaboration, and data-driven mule assessments.

Fraud, Scams & Cybercrime

South Korea Enhances Measures Against Voice Phishing Frauds

By Mark Johnston | 20/08/2024

New measures effective from 28 August will require FIs and prepaid providers to share information and introduce more controls to guard against fraud.