Financial Crime

KYC & CDD

Indonesia Tightens Forex Reporting Requirements

By Samuel Riding | 02/11/2016

Banks must detail purposes of outbound transfers of more than $100,000.

Anti-Money Laundering

Hong Kong Suspicious Transaction Reports Surge

By Samuel Riding | 02/11/2016

Joint Financial Intelligence Unit received nearly 60,000 reports in 1st nine months of 2016.

Supervision & Enforcement

Standard Chartered Involved in HK IPO Probe

By Samuel Riding | 02/11/2016

Bank warns of ‘financial consequences’ if regulator takes action.

Conduct, Culture & Accountability

HK Regulator Revokes Asset Management Licences

By Samuel Riding | 01/11/2016

Company owner’s licence is revoked; banned for 10 years for abuse of clients’ trust.

Operational Risk

APRA Seeks Stronger Powers over Superannuation

By Samuel Riding | 01/11/2016

Additional powers said to address lapses in governance, risk management, and conflict management.

Supervision & Enforcement

HK SFC Probes UBS on IPO Sponsorships

By Samuel Riding | 31/10/2016

Swiss bank could face fines or temporary suspension of advisory services.

Emerging Prudential Risks

Asia Regulators Fear ‘Brain Drain’ to Banks

By Samuel Riding | 28/10/2016

BCBS survey details regulatory priorities of 11 Asian jurisdictions.

Fraud, Scams & Cybercrime

Australian Banks Asked to Pay Back $135mn in Fees

By Samuel Riding | 28/10/2016

Institutions were collecting fees for advice without giving any advice.

KYC & CDD

HK SFC Amends Account Opening Rules

By Samuel Riding | 25/10/2016

Regulator says Code of Conduct requirements are at par with international standards, adds some measures.