Financial Crime

Supervision & Enforcement

ASIC is Targeting Misconduct in Superannuation Sector

By Sanday Chongo Kabange | 16/11/2023

ASIC says it will take strong, targeted enforcement action in relation to “member services failures in the super sector”.

Supervision & Enforcement

RBI Takes First Action Against Non-Compliance With Digital Lending Guidelines

By Ajoy K Das | 16/11/2023

The RBI said Bajaj Finance did not issue the Key Fact Statements to borrowers as required under its digital lending guidelines issued in September 2022.

Fraud, Scams & Cybercrime

China Issues Draft Rules Promising Strict Penalties for Fraudsters

By Editors | 16/11/2023

Individuals who commit fraud can have their bank accounts and communication services suspended, and their offences included in the national financial credit information base.

Fraud, Scams & Cybercrime

Singapore Police Make Five Arrests in Anti-scam Operation

By Editors | 16/11/2023

The police acted on information from DBS, seizing S$680,000 and arresting five individuals including a 16-year-old.

Fraud, Scams & Cybercrime

BCBS Publishes Discussion Paper on Digital Fraud and Banking

By Editors | 16/11/2023

The BCBS is seeking comments and feedback from stakeholders beyond the banking sector to better understand the status of digital fraud as well as its mitigants.

Anti-Money Laundering

Taiwan Crypto Exchange Caught in Money Laundering Probe

By Editors | 16/11/2023

Crypto exchange Bitgin is under investigation and its chief operating officer has been arrested for his alleged ties to a money laundering network.

KYC & CDD

Fenergo Awarded Best KYC, CDD & Onboarding Solution

By Editors | 16/11/2023

Fenergo was recognised for Fenergo KYC, which judges said was “comprehensive, highly configurable, and can be easily integrated into existing workflows”.

KYC & CDD

Fenergo Awarded Best Client Lifecycle Management Solution 

By Editors | 16/11/2023

Fenergo was recognised for its SaaS platform that enables financial institutions to digitally manage the end-to-end client onboarding and lifecycle experience.

PEPs & Sanctions

US, UK Tout “Enhanced Partnership” on Sanctions

By Editors | 16/11/2023

US and UK sanctions authorities have worked closely together over the past year as the UK continues to define its post-Brexit sanctions regime.