Financial Crime

Conduct, Culture & Accountability

HSBC Private Bank Fined $50mn for Crisis-era Product Mis-selling

By Editors | 23/11/2017

Securities and Futures Appeals Tribunal says future fines will be similarly large and exceed ‘mere cost of doing business’.

Anti-Money Laundering

Southeast Asia CTF Group Established

By Editors | 23/11/2017

Group led initially by AUSTRAC and Philippines Anti-Money Laundering Council aims to disrupt sources of funding, movement and use of funds.

KYC & CDD

The Challenges for Offshore Banks Onboarding China’s HNWIs

By Appway | 20/11/2017

Digital onboarding can help banks provide a superior customer experience, guarantee AML compliance and improve internal efficiency.

AI Risk & Governance

The Final Frontier of Financial Regulation

By Peter Guy | 20/11/2017

FSB’s recent paper on artificial intelligence and machine learning reveal how far we are from managing its unknown effects on financial markets.

Anti-Bribery & Corruption

Ex CITIC Securities President Jailed 3.5 Years for Corruption

By Editors | 16/11/2017

Caixin reports that Cheng Boming was among 11 CITIC executives detained for alleged insider trading and leaking information during 2015 market meltdown.

Anti-Money Laundering

Australia, Indonesia, Malaysia to Hold CTF Summit

By Editors | 16/11/2017

Summit to include ‘codeathon’, with 80 participants demonstrating new digital tools and ideas to address the challenge of terrorist financing.

Cryptocurrency

India’s Highest Court Considering Petition Calling for Bitcoin Regulation

By Garima Chitkara | 16/11/2017

Petitioner says central bank, securities regulator refusing to take responsibility for bitcoin regulation by not defining as currency or commodity

Cybersecurity

MAS MD Sets out Fintech Regulation Agenda

By Editors | 16/11/2017

Ravi Menon sets out raft of initiatives including new Payment Services Bill, technology risk management guidelines, machine readable forms.

Cybersecurity

Singapore Launches Cybercrime Centre

By Garima Chitkara | 16/11/2017

Centre is a collaboration between FS-ISAC and MAS; will provide internship training cybercrime fighters from Temasek Polytechnic.