Financial Crime

Anti-Money Laundering

Singapore Tables Bill to Strengthen Measures Against PF Risk

By Editors | 10/01/2024

Gem and precious metal dealers, legal practitioners, moneylenders and pawnbrokers will be required to address proliferation financing risks.

Conduct, Culture & Accountability

Singapore FIDReC Proposes to Raise Adjudication Award Limit

By Editors | 09/01/2024

The adjudication award limit is set at SGD 100,000, however FIDReC says the number of claims exceeding this limit has risen in recent years.

Capital Adequacy

China Proposes Revised Rules for Financial Leasing Sector

By Editors | 09/01/2024

The NFRA added a new financial leverage indicator and new liquidity supervision indicators for financial leasing company evaluations.

Anti-Bribery & Corruption

China to Prosecute Former Everbright Group Chairman

By Editors | 09/01/2024

Tang Shuangning became the second former chairman of China Everbright Group to be dismissed from the CCP in recent months.

Conduct, Culture & Accountability

Korea FSS Widens Probe into Sales of High Risk Derivatives

By Manesh Samtani | 09/01/2024

The FSS found that some firms incentivised sales of high-risk and complex ELS products through internal policies and KPIs.

DeFi & Web3

CFTC Offers Policy Recommendations to Address DeFi Risks

By Manesh Samtani | 09/01/2024

The report calls on the government and industry to work together to better understand DeFi and “advance its responsible and compliant development”.

Cryptocurrency

HK Spot Crypto ETFs to Drive Collaboration with TradFI Firms

By Nithya Subramanian | 09/01/2024

With regulatory safeguards in place, the success of crypto ETFs hinges on institutional interest tied to market conditions, including crypto valuations.

Anti-Money Laundering

Vietnam: SBV Directs Banks to Strengthen AML Controls

By Sanday Chongo Kabange | 08/01/2024

The directions come after Vietnam implemented a new AML law in 2022 and “Decree 19” in April 2023 to support implementation.

Anti-Money Laundering

KoFIU Unveils New AML Education Initiatives for Financial Industry

By Mark Johnston | 08/01/2024

Firms will be allowed to set training hours for employees based on position and duties, and KoFIU will introduce a new AML competency test.