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Anti-Money Laundering
SEBI Concerned About Money Laundering via PE, VC
By Garima Chitkara | 11/03/2018
Indian regulator says looser investment rules could encourage ‘round-tripping’ of funds by domestic investors, concerned about source of funds.
Cryptocurrency
Japan FSA Orders Business Improvement, Closures at Crypto Exchanges
By Manesh Samtani | 10/03/2018
Five exchanges including recently-hacked Coincheck ordered to improve internal controls; two exchanges ordered to halt services.
Resolution & Recovery
Sri Lanka to Bail Out Finance Company Depositors
By Editors | 09/03/2018
The central bank has cancelled troubled finance company CIFL’s licence and doubled the maximum deposit insurance payout for each depositor.
KYC & CDD
New Initiative to Help Boost Correspondent Banking Relationships
By Editors | 08/03/2018
Wolfsberg Group Questionnaire has potential to reduce costs associated with KYC application and streamline the establishment and maintenance of correspondent banking relationships.
KYC & CDD
SBI Fined for Noncompliance with Counterfeit Currency Rules
By Editors | 08/03/2018
Central bank investigators found that State Bank of India had not complied with rules on detection and impounding of counterfeit notes.
Anti-Money Laundering
S. Korea Seeks Powers to Fine False-Name Bank Accounts
By Editors | 07/03/2018
Legislative reforms aimed at granting FSC powers to collect fines of over 50 percent of assets found in false-name bank accounts.
Credit Risk
RBI Fines Axis Bank $460,000 for Bad Loan Classification Failures
By Editors | 07/03/2018
Statutory inspection revealed gross NPAs higher than Axis Bank’s reported numbers; Indian Overseas Bank also fined for KYC failures.
Fraud, Scams & Cybercrime
Vietnam Banks Ordered to Improve Internal Security
By Editors | 07/03/2018
Central bank instructs commercial lenders to improve staff oversight, upgrade security technology and boost fraud-related information sharing.
Credit Risk
APRA Mulls Removal of Mortgage Lending Cap
By Editors | 06/03/2018
Removing the 10 percent growth cap would enable banks to increase mortgage lending, ease mortgage rates for investors and boost competition in the sector.
Conduct, Culture & Accountability
Profitability through Compliance Technology: Dreaming the Impossible Dream
By Peter Guy | 05/03/2018
Large technology investments to improve compliance performance have not yielded desired results almost ten years after the global financial crisis.
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