Financial Crime

KYC & CDD

S. Korea FSC Eases Bank Account Opening Process

By Editors | 19/05/2015

Customers opening new bank accounts will no longer be required to visit bank offices in person

Anti-Money Laundering

FATCA in Full Force

By Peter Guy | 19/05/2015

For the first time in history, the US Government wields an international array of law enforcement tools specially designed to pursue tax evasion. But, what are the repercussions?

Anti-Money Laundering

HKMA Requires New Tax Checks on Banks’ Clients

By Editors | 18/05/2015

In a push to monitor money laundering in the banking system, Hong Kong regulators have asked banks to look into customer’s filings to see if they’re paying their dues.

Credit Risk

Australian Home Loans Tighten as Regulator Issues Warning

By Editors | 18/05/2015

Australian banks’ lending for investment properties has tightened after regulators cautioned against aggressively funding the sector.

Credit Risk

APRA Cautions Banks Against Increased Home Lending

By Editors | 14/05/2015

The Australian Prudential Regulation Authority (APRA) chairman Wayne Byres warns that authorities will step up scrutiny and monitoring of banks that will continue to lend aggressively to the housing sector.

Supervision & Enforcement

ASIC Calls for Tougher Penalties Against White-Collar Crimes

By Editors | 12/05/2015

Australia’s chief securities regulator wants to introduce tougher criminal penalties for financial crimes so market participants are forced into following the law.

Market Abuse

Hong Kong’s SFC Says Will Be On Guard for Market Manipulation

By Editors | 12/05/2015

Securities and Futures Commission would watch market activity closely to ensure against market manipulation amid a surge in trading volume.

Anti-Money Laundering

Regulatory Advisory Firm Bovill Names New Head for Asia

By Editors | 11/05/2015

Specialist financial services regulatory consultancy Bovill said it named Eddie Lim as new head of Bovill Asia.

Emerging Prudential Risks

Hong Kong’s HKMA Likely to Face Tough Challenge in HSBC’s Planned Move

By Editors | 28/04/2015

Hong Kong’s de facto central bank may have to scale up its regulatory operations should British banking firm HSBC decide to relocate its headquarters in the city.