Financial Crime

Anti-Money Laundering

Australia’s Largest Tax Fraud Case Ends with 10-year Jail Sentence

By Samuel Riding | 02/04/2018

Duo spent $103mn in illicit gains on Rolls Royces, a Lamborghini, an Aston Martin, a Mercedes, a BMW and yachts

Cybersecurity

Malaysia Foils Cyber Attack Involving Falsified SWIFT Messages

By Manesh Samtani | 01/04/2018

Unauthorised transactions were prevented by central bank, no financial losses occurred; near breach prompts increased vigilance in the Philippines.

Market Risk

ICICI Bank Fined for Failing to Disclose Debt Securities Sale

By Garima Chitkara | 31/03/2018

ICICI Bank sold debt securities from its held-to-maturity portfolio in excess of 5 percent of total value without the necessary disclosure in contravention with RBI rules.

Emerging Prudential Risks

Chinese Government Approves WMP Clampdown

By Editors | 30/03/2018

New rules to reduce leverage, ban guarantees; financial court to be set up in Shanghai will jurisdiction over major legal cases.

Cryptocurrency

Thailand Finalises Cryptocurrency Tax Framework

By Manesh Samtani | 30/03/2018

Cryptocurrency trades to be subject to 7 percent value added tax and 15 percent capital gains tax; fintech association chair says move may drive startups overseas.

Conduct, Culture & Accountability

Royal Commission Exposes Multiple Lending Practice Failures at Big Four

By Manesh Samtani | 29/03/2018

Public inquiry’s first round of hearings reveals multiple failures at ‘big four’ banks to lend in customers’ best interests.

AI Risk & Governance

Indian Exchange Eyes Machine Learning, AI to Combat HFT Risks – Report

By Editors | 28/03/2018

Managing director and CEO of National Stock Exchange tells Livemint new technology is needed to meet traders’ increasing sophistication.

Conduct, Culture & Accountability

Australian Bank Conduct Code to be Compulsory

By Editors | 28/03/2018

Code being considered by ASIC will be binding, with self-regulatory body given power to investigate misdemeanours and issue sanctions.

Resolution & Recovery

Vietnam Establishes Early Intervention Mechanism for Ailing Banks

By Editors | 26/03/2018

New mechanism provides guidelines for SBV directors to take action as a credit institution profile weakens to contain risk.