Financial Crime

Tokenisation

Japan Proposes Regulatory Framework to Legalise ICOs

By Manesh Samtani | 09/04/2018

Government-backed research group proposes rules for identifying investors, preventing money laundering and protecting equity and debt holders.

Anti-Bribery & Corruption

FSS Confirms Former Chief’s Role in Hana Bank Hiring Scandal

By Editors | 06/04/2018

Hana Financial Group chairman and KEB Hana Bank president also tied to illegal hiring of 32 employees in 2013.

Conduct, Culture & Accountability

New Chief of S.Korea’s FSS Targets Bank Profiteering from Predatory Lending

By Manesh Samtani | 05/04/2018

New FSS chief to protect investors and root out irregularities by targeting predatory lending, bank profit structures, family-run conglomerates.

Emerging Prudential Risks

China Launches Crackdown on Unlicensed Online Asset Managers

By Editors | 05/04/2018

Chinese authorities step up focus on the online asset management industry to clean up unlicensed firms.

Fraud, Scams & Cybercrime

PNB Investigation Reveals Systemic Failures at Bank, RBI

By Garima Chitkara | 05/04/2018

PNB allegedly misled the regulator about the progress of its Swift integration. Indian law enforcement noted that an ill-defined risk-based supervisory approach may have caused the RBI to miss the fraud.

Anti-Money Laundering

New Rules for Australian Crypto Exchanges Take Effect

By Manesh Samtani | 05/04/2018

Exchanges must register with AUSTRAC, adopt AML/CTF programme, verify customer identities, report suspicious transactions, maintain seven years of records.

Cryptocurrency

Report Suggests China May Support Global Crypto Regulation

By Manesh Samtani | 03/04/2018

PBOC’s Institute of International Finance says China would actively participate in a G20-led effort to establish a global regulatory framework.

Supervision & Enforcement

BCBS Publishes Study on Early Supervisory Intervention Practices

By Editors | 03/04/2018

Intervention action should be taken to correct unsafe or unsound banking practices before rules and buffers are materially breached.

Operational Risk

Bangladesh Banks Call for Reforms on Internal Controls, Compliance

By Garima Chitkara | 02/04/2018

The Bangladesh Institute of Bank Management presented a report calling for reform of internal control and compliance departments at the country’s banks.