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Fraud, Scams & Cybercrime
Singapore Banks to Station More Staff at Anti-Scam Centre
By Editors | 05/04/2022
While banks have been supporting the police’s Anti-Scam Centre for the past three years, only DBS currently has staff physically located inside the centre.
Market Abuse
Korea: FSC, FSS Relaunch Special Investigations Team
By Editors | 05/04/2022
The team comprises officials from the FSC and FSS, who will be authorised to investigate illegal acts in the capital market more quickly.
Operational Risk
RBI Identifies Faults in Risk, Compliance, Audit Functions
By Sanday Chongo Kabange | 05/04/2022
The RBI has bolstered its supervisory focus at banks amid findings of compliance, risk management and internal audit weaknesses.
Emerging Prudential Risks
APRA Advances to Phase 2 of Superannuation Data Transformation
By Editors | 05/04/2022
Phase 2 will deliver more data on retirement outcomes, performance, efficiency, governance, risk management practices, fund operations and industry risks.
Fraud, Scams & Cybercrime
ASIC Launches Federal Court Proceedings Against Macquarie
By Editors | 05/04/2022
ASIC says Macquarie failed to properly detect and prevent unauthorised fee transactions by now-convicted former financial adviser, Ross Andrew Hopkins.
PEPs & Sanctions
Japan, US Impose More Sanctions Over DPRK Missile Tests
By Mark Johnston | 05/04/2022
Japan sanctioned 4 Russia-based entities and 9 other individuals. The US sanctioned 5 more North Korean entities.
Anti-Bribery & Corruption
Former CSRC Official to Face Criminal Charges for Taking Bribes
By Editors | 04/04/2022
The former official accepted gifts, money, shares of companies, luxury goods and other personal benefits as bribes while he was tasked with reviewing IPO applications.
Supervision & Enforcement
Philippine SEC to Form Dedicated Unit Targeting Abusive Lending
By Editors | 04/04/2022
The government is seeking to prevent and penalise abusive debt collection practices, misrepresentations, and unreasonable terms and conditions.
Operational Risk
BSP Allows Trust Companies to Outsource Internal Audit Function
By Sanday Chongo Kabange | 04/04/2022
The BSP says trust companies can use the internal audit function of a parent bank or NBFI, or outsource internal audit activities to an external firm.
KYC & CDD
EU Lawmakers Vote to Adopt KYC Rules for Unhosted Crypto Wallets
By Darien Choong | 04/04/2022
The European Parliament voted to adopt requirements for crypto firms to gather and verify personally identifiable information of users of unhosted crypto wallets.
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