Financial Crime

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    Credit Risk

    China Urges “High Quality” Firms to Use Foreign Debt Financing

    By Editors | 25/07/2024

    Companies that qualify as “high-quality enterprises” and apply for foreign debt quotas will have their applications expedited.

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    Fraud, Scams & Cybercrime

    Philippines Announces Total Ban on Offshore Gaming Operators

    By Mark Johnston | 25/07/2024

    The ban announced by the President will impact more than 400 POGOs, most of which are unlicensed and operate underground.

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    KYC & CDD

    RBI Revises Framework for Domestic Money Transfer Services

    By Ajoy K Das | 25/07/2024

    The revisions tighten KYC record keeping, AFA validation and transaction message requirements for domestic money transfers.

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    Anti-Bribery & Corruption

    China Establishes Anti-Corruption Body for Financial Sector

    By Editors | 25/07/2024

    The CCDI announced the establishment of a dedicated disciplinary body to tackle corruption in the financial sector.

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    PEPs & Sanctions

    UniCredit Drops Part of Appeal Against ECB’s Russia Exit Orders

    By Editors | 25/07/2024

    UniCredit said it has received “sufficient clarity” from the ECB on certain parts of its application to the GCEU.

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    PEPs & Sanctions

    Australia Imposes First Sanctions Against Israelis in West Bank

    By Editors | 25/07/2024

    Seven Israelis and a youth group were sanctioned for their involvement in violent attacks against Palestinian communities.

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    Emerging Prudential Risks

    ECB to Develop Framework for Geopolitical Risk Assessments

    By Editors | 25/07/2024

    The ECB is working to develop a framework that it can use to deal with the impacts of geopolitical risks such as sanctions on EU banks.

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    PEPs & Sanctions

    OFAC Sanctions DPRK Procurement Network Based in China

    By Editors | 25/07/2024

    The action imposes sanctions on China-based individuals and entities involved in the procurement of items used in the production of North Korean ballistic missiles.

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    Supervision & Enforcement

    MAS Cancels Insurance Broker’s Registration for Regulatory Breaches

    By Nithya Subramanian | 25/07/2024

    Acesynergy Brokers failed to comply with applicable regulatory requirements, registration conditions, and written directions from MAS.

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    Market Abuse

    Kakao’s Billionaire Founder Arrested in South Korea

    By Editors | 24/07/2024

    Kim Beom-su was arrested on allegations that he played a role in manipulating the stock price of K-pop agency SM Entertainment last year.

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