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Fraud, Scams & Cybercrime
Henan Fraud: Bank Regulators Seek to Reassure Markets
By Darien Choong | 21/07/2022
Some customers have had difficulty signing up for a repayment scheme and data has been removed from banks, delaying some payments.
Fraud, Scams & Cybercrime
Fraud Risk: An Industry Priority for the Crypto Space
By Editors | 20/07/2022
Experts say crypto firms have a responsibility and moral obligation to have anti-fraud controls in place, and that this will help create trust in the industry.
Payments & Settlements
India, Indonesia to Work Towards Establishing Payment Linkages
By Editors | 20/07/2022
The RBI and Bank Indonesia will cooperate in areas such as cross-border payments, digital innovation, and AML/CFT.
Anti-Money Laundering
PBOC Beijing Penalises Didi Pay for AML Violations
By Editors | 19/07/2022
The violations included failure to confirm the real identities of users, conduct checks on unusual transactions, and report major risks in a timely manner.
Anti-Money Laundering
New Zealand Court Dismisses Appeal of First AML Act Convictions
By Editors | 19/07/2022
Jiaxin Finance, its sole director and his mother were sentenced to pay fines for AML/CFT violations in 2020. Their appeals have been dismissed.
Fraud, Scams & Cybercrime
Scam Loss Sharing Framework Will Take Longer to Develop: MAS
By Editors | 19/07/2022
Developing the new framework is taking longer than expected due to the complexity of the issues involved and the importance of ensuring the framework has the correct incentives.
Anti-Money Laundering
BSP Issues Guidance on Conducting AML/CFT Risk Assessments
By Editors | 18/07/2022
The findings from institutional risk assessments should be used to enhance AML/CFT/CPF/sanctions compliance programmes and made available to the BSP during examinations.
Fraud, Scams & Cybercrime
Singapore Police Lay Fraud Charges Against Zenrock Founder
By Editors | 18/07/2022
The founder and his former operations executive were charged for cheating Bank of China, HSBC and Credit Agricole CIB.
Fraud, Scams & Cybercrime
SFC Bans Former StanChart Representative for Three Years
By Editors | 18/07/2022
The representative’s mother transferred funds into five customers’ payroll accounts to improve his work performance.
PEPs & Sanctions
How North Korean Cryptocurrency Abuse Is Expanding
By Sasha Erskine | 18/07/2022
Countries must secure new and emerging gateways that are used to circumvent sanctions, as North Korea’s exploitation of cryptocurrency continues.
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