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Data Privacy
PBOC Fines BEA China Unit Over Data Collection Violation
By Editors | 17/01/2022
Reports say other fines may be made public in the near future for violations of new rules that prohibit the over-collection and misuse of credit information.
Fraud, Scams & Cybercrime
Crime Becoming Smaller Part of Crypto Ecosystem: Report
By Manesh Samtani | 17/01/2022
Chainalysis estimates that illicit wallet addresses received $14bn throughout 2021, but this represented just 0.15% of total transaction volumes in crypto during the year.
Anti-Money Laundering
HKMA Fines Prepaid Card Issuer 33FS for AML/CTF Deficiencies
By Editors | 17/01/2022
The case involved control deficiencies in respect of 33 Financial Services Limited’s transaction monitoring and name screening systems, the HKMA said.
Anti-Bribery & Corruption
China Anti Graft Probe Ensnares China Life Chairman
By Editors | 16/01/2022
The probe is rumoured to be linked to Hu Huaibang, the former chairman of China Development Bank who was sentenced to life in prison in January 2021 on corruption charges.
Market Abuse
Korea FSS to Bolster Capacity at Special Investigations Unit
By Editors | 16/01/2022
The FSS said an increase in manpower and an expansion of the unit’s scope are needed to strengthen its capacity to respond to unfair trading practices in the capital market.
PEPs & Sanctions
OFAC Fines HK Unit of Japanese Conglomerate Sojitz
By Editors | 13/01/2022
Trading in Iran-origin goods was carried out without the knowledge of senior management by employees who omitted information from documentation.
Operational Risk
CBIRC Issues Rules for Pension Insurance Institutions
By Darien Choong | 12/01/2022
Pension insurance providers should optimise service capabilities, improve internal management and governance, and strengthen risk isolation.
Anti-Bribery & Corruption
Taiwan FSC Fined Seven FIs Over Regulatory Violations
By Darien Choong | 12/01/2022
Taiwan’s FSC has fined seven financial institutions for regulatory violations including the improper payment of commissions.
Capital Adequacy
Japan Extends Leverage Ratio Relaxation to Support Bank Lending
By Editors | 09/01/2022
Central bank deposits will be excluded from total exposure when calculating the leverage ratio until the end of March 2024.
PEPs & Sanctions
DPRK Sanctions Evasion Not Being Captured by Regulation
By Manesh Samtani | 07/01/2022
Gatekeeper professions play an important role in facilitating North Korean sanctions evasion, RUSI says in a new paper.
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