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Supervision & Enforcement
US Fed Ends HSBC 2012 Deferred Prosecution Agreement
By Editors | 06/09/2022
HSBC welcomed the decision, saying its employees have worked hard over the last decade to transform the bank’s financial crime risk management capabilities.
Data Privacy
RBI Issues New Guidelines on Digital Lending
By Sanday Chongo Kabange | 06/09/2022
The guidelines are applicable to existing customers availing fresh loans and new customers getting onboarded. Existing digital loans must be in compliance by 30 November.
Emerging Prudential Risks
Philippines to Assess Financial Conglomerate Risks in October
By Editors | 06/09/2022
The first supervisory college focusing on financial conglomerates concluded in June. The second supervisory college will commence in October.
Anti-Money Laundering
SFC Suspends Rifa Futures Exec Over ‘Xinguanjia’ Trading Software
By Editors | 06/09/2022
In July, Rifa Futures became the fourth firm to be fined over the use of Xinguanjia. The firm’s managing director has now been suspended for 8 months.
Cybersecurity
BSP Rolls Out New Cyber Risk Management Software at FIs
By Editors | 06/09/2022
The software will streamline and automate regulatory supervision, reporting and compliance assessment of banks’ cybersecurity risk management.
Market Abuse
Thai SEC Penalises Bitkub CTO for Insider Trading Violations
By Editors | 05/09/2022
Bitkub’s CTO bought the company’s own digital token, KUB Coin, based on inside information about a proposed acquisition by Siam Commercial Bank.
Anti-Money Laundering
Korean Authorities Arrest 16 Over Illegal FX Transactions
By Editors | 05/09/2022
In some cases, funds were remitted overseas via commercial banks, disguised as payments for trade businesses to exploit the “Kimchi premium”.
PEPs & Sanctions
Russia Bond CDS Auction to Be Held on 12 September
By Editors | 04/09/2022
The amounts holders of CDS on Russian debt are likely to receive has reportedly dropped by about a third since early June.
Cybersecurity
Singapore Cybersecurity Agency Warns of Increasing Cybercrime
By Darien Choong | 04/09/2022
Disparate cyber norms, ecosystems and standards could emerge across the globe due to decreasing reliance on Western technology as a result of geopolitical tensions.
Fraud, Scams & Cybercrime
German Prosecutors Raid JP Morgan as Part of Cum-Ex Probe
By Editors | 04/09/2022
Around 1,500 people are currently under investigation across 50 international and domestic financial institutions and brokers.
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