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Credit Risk
S.Korea Regulators Probe Bank’s Lending Practices
By Samuel Riding | 28/02/2018
Regulators want to ensure banks are determining interest rates properly as household debt stubbornly refuses to decline.
Fraud, Scams & Cybercrime
Hong Kong SFC to Focus on Corporate Fraud in 2018
By Editors | 27/02/2018
SFC’s recent newsletter on enforcement priorities details concern on false financial statements, IPO fraud and other sponsor failures.
Fraud, Scams & Cybercrime
RBI Mandates Integration of SWIFT in Core Banking Software
By Manesh Samtani | 26/02/2018
Punjab National Bank says $1.8bn fraud went undetected because staff failed to enter SWIFT instructions in core banking software.
Alternative Markets
India to Tighten Rules for Alternative Investment Funds
By Garima Chitkara | 26/02/2018
SEBI to increase focus on source and use of funds going through the alternative investment fund framework.
Supervision & Enforcement
Indian Court Urges End to Auditor ‘Self Regulation’
By Editors | 26/02/2018
Supreme Court says auditors lack adequate oversight, have breached central bank and foreign direct investment rules and Chartered Accountants Act.
Supervision & Enforcement
HK SFC Sees Surge in Criminal Prosecutions
By Samuel Riding | 25/02/2018
Criminal charges laid by securities regulator nearly tripled in last nine months of 2018, although investigations started and concluded declined.
KYC & CDD
Indonesian Banks Start AEOI Registration to Report Customer Data
By Editors | 22/02/2018
Indonesian banks, regulators and financial infrastructure firms invited to register with the tax office under AEOI norms.
Supervision & Enforcement
Australian Banks’ Bill for Dodgy Financial Advice Hits $40mn
By Garima Chitkara | 22/02/2018
Australian banks paid an additional $16.7mn to compensate customers affected by “non-compliant” financial advice between 2009 and 2015.
KYC & CDD
New KYC Norms a Turn-off for India’s Mobile Wallet Users
By Garima Chitkara | 22/02/2018
Less than half of wallet consumers opted to be KYC-compliant before the 28 February deadline; new KYC norms will force telecom firms to verify customer data using third-parties, taking away their current advantage over other payment firms.
Supervision & Enforcement
CBRC to Name-and-Shame Banking Wrongdoers
By Editors | 22/02/2018
Banking regulator seeks to send a warning to financial institutions of the consequences of misbehaving
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