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PEPs & Sanctions
ICMA Issues Guidance on Repo Trades Impacted by Sanctions
By Manesh Samtani | 27/04/2022
ICMA provides guidance on handling situations where counterparties may fail to deliver collateral securities due to the imposition of sanctions.
Anti-Money Laundering
FIs Must Continue to Innovate Approach to AML: HKMA
By Manesh Samtani | 27/04/2022
Executive director Carmen Chu says work is underway to update HKMA’s guidance on name screening, transaction monitoring and suspicious transaction reporting.
PEPs & Sanctions
China UnionPay to Halt Operations in Russia
By Editors | 27/04/2022
UnionPay has reportedly halted negotiations with Russian banks on issuing new bank cards for their customers to avoid possible sanctions.
Fraud, Scams & Cybercrime
BSP Directs FIs to Implement Controls Against Cyber Fraud
By Editors | 26/04/2022
The recommended control measures include the removal of clickable links in emails and SMS and customer notifications for fund transfers and contact information changes.
Structural Regulation
China Proposes to Enhance Licencing System for Dual-use Goods
By Darien Choong | 26/04/2022
The draft regulations are aimed at fulfilling China’s international obligations on non-proliferation and addressing the fragmented structure of the existing rule system for export controls.
PEPs & Sanctions
AMLC Philippines Launches Review of Sanctions Screening Practices
By Editors | 26/04/2022
The AMLC has partnered with AML Analytics as its testing and validation partner to conduct a thematic review of customer- and transaction-screening systems at FIs and DNFBPs.
Conduct, Culture & Accountability
Trust in Singapore Banking Industry is Increasing: ABS
By Manesh Samtani | 26/04/2022
ABS highlighted banks’ efforts to improve complaints handling, tackle digital scams, and enhance accountability, conduct and culture.
Market Abuse
MAS Penalises Two CIMB Securities Brokers for False Trading
By Editors | 26/04/2022
The two brokers rigged the market for Kris Wiluan, who was convicted and fined in May 2021 for manipulating the stock prices of KS Energy where he was CEO.
PEPs & Sanctions
Australia Sanctions More Russian Lawmakers, US Blocks Port Access
By Editors | 26/04/2022
Australia has now sanctioned nearly 750 individuals and entities in response to the war in Ukraine. Russian-affiliated vessels are prohibited from entering US ports.
Fraud, Scams & Cybercrime
PwC Concludes Review of OCBC Anti Fraud Systems
By Ranamita Chakraborty | 26/04/2022
A review of OCBC’s anti-fraud systems and procedures concluded that the bank should take a more “integrated approach” to combat fraud and scams.
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