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Emerging Prudential Risks
China Banking Regulator Doubles Down, Again, on Systemic Risk
By Editors | 11/10/2017
CBRC says failure of regulators to identify risks amounts to ‘dereliction of duty’; urges lenders to sort out non-performing loans.
Cryptocurrency
Official Media Confirms China Bitcoin Ban Only Temporary
By Editors | 09/10/2017
Xinhua says authorities will introduce a licensing programme and stricter AML rules for cryptocurrency exchanges; ICOs also to become regulated.
Supervision & Enforcement
Malaysian Central Bank to ‘Name and Shame’ Rulebreakers
By Editors | 09/10/2017
Bank Negara Malaysia governor says it has shared the names of more than 400 individuals with banks in the country over the past three months.
KYC & CDD
Standard Chartered Guernsey-Singapore Transfers Under Investigation
By Editors | 09/10/2017
Authorities suggest bank may have conducted $1.4bn of transfers to Singapore to avoid being caught under Common Reporting Standard.
Anti-Money Laundering
Forensic Accountancy Programme Launched in Singapore to Combat Financial Crime
By Editors | 05/10/2017
Forensic accountancy qualification will be open to financial crime compliance and investigations professionals; ACRA to consider monitoring audit firms.
Anti-Money Laundering
China Raises AML Concerns About Non-financial Sectors
By Editors | 05/10/2017
PBOC will target areas including real estate intermediaries and jewelry sales, says will not disrupt ‘normal and legal’ cross-border transactions.
Anti-Money Laundering
Chinese Money Laundering or Capital Transfer – ‘Vive la Différence’
By Editors | 02/10/2017
Financial technology and digital payment systems are abetting the greatest money laundering campaign in the history of finance.
Conduct, Culture & Accountability
Asia Pacific FIs Enter New Era of Accountability
By Editors | 28/09/2017
Australian bankers rail against short deadline for comments on BEAR, which mirrors Hong Kong’s recently introduced MiC.
Fraud, Scams & Cybercrime
Indonesia Targets Illegal Investment Managers, Fund Collectors
By Editors | 28/09/2017
Nearly 50 firms have been shut down this year for operating without a license, offering unreasonably generous repayment terms, returns.
KYC & CDD
Japan FSA to Trial Blockchain KYC
By Editors | 25/09/2017
Blockchain KYC will allow customers to open multiple accounts without having to go through individual onboarding procedures each time.
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