Financial Crime

PEPs & Sanctions

US Targets China Chip Production With New Export Controls

By Editors | 03/12/2024

The controls aim to further impair China’s ability to procure and produce technology for its military modernisation, WMD programmes, and ability to repress human rights.

Fraud, Scams & Cybercrime

Meta Tightens Ad Rules to Curb Financial Scams​ in Australia

By Thisanka Siripala | 02/12/2024

Meta will require financial advertisers to verify their AFSL numbers and disclose payer and beneficiary information

Data Privacy

Australia Concludes Review of Credit Reporting Framework

By Thisanka Siripala | 02/12/2024

The review resulted in 37 recommendations, including the introduction of a separate licensing regime for credit reporting bodies to ensure accountability.

Anti-Bribery & Corruption

Malaysian Court Drops Corruption Charges Linked to 1MDB: Report

By Nithya Subramanian | 02/12/2024

The court granted an acquittal to Najib Razak and another former official due to procedural delays and the prosecution’s failure to provide crucial documents.

PEPs & Sanctions

BRICS Nations Face ‘100% Tariffs’ if They Move Away from USD

By Editors | 02/12/2024

President-elect Trump said the BRICS nations will face “100% Tariffs” if they create a new BRICS currency or back any other currency to replace the US dollar.

Market Abuse

ICAC Charges Former SFC Manager for Sharing Confidential Information

By Sanday Chongo Kabange | 02/12/2024

The former SFC manager shared confidential information about a 2023 rights issue to personal friends who used it to make HK$11mn in trading profit.

CBDCs

Iran Launch of CBDC to Combat Sanctions is ‘Imminent’ – Report

By Editors | 02/12/2024

The Central Bank of Iran also recently launched a SWIFT alternative, the “ACU-MIR” system, which is enabling transactions with countries such as India and Pakistan.

Cryptocurrency

Taiwan FSC Launches New Registration System for VASPs

By Manesh Samtani | 02/12/2024

The FSC also released guidelines for firms providing virtual asset services and launched a “Virtual Asset Custody Services” pilot programme.

Credit Risk

China NFRA Encouraging Banks to Lend to Small & Micro Enterprises

By Editors | 02/12/2024

The NFRA has revised its framework for annual regulatory evaluations of banks to increase focus on the provision of credit to micro and small enterprises.