ADVERTISEMENT
Anti-Money Laundering
AUSTRAC Publishes Guidance on Geographical Link Test
By Editors | 21/10/2021
The geographical link test helps firms that provide designated services determine whether they have AML/CTF obligations in Australia.
Emerging Prudential Risks
RBNZ Reviews Policy for Branches of Overseas Banks
By Editors | 21/10/2021
The RBNZ says there are inherent limitations on its ability to apply its regulatory standards to all branches and to supervise them effectively.
Stablecoins
CFTC Fines Tether as US Regulators Scrutinise Crypto Markets
By Mark Johnston | 21/10/2021
The CFTC has fined Tether $41mn and Bitfinex’s parent $1.5mn. Meanwhile New York prosecutors have directed two crypto lending platforms to cease operations.
Anti-Money Laundering
AUSTRAC Seizes Star Casino Files in Money Laundering Probe
By Sanday Chongo Kabange | 20/10/2021
AUSTRAC is reported to be building a case against Star Entertainment Group over alleged shortcomings in its AML/CTF controls.
Anti-Bribery & Corruption
Credit Suisse Settles Charges Over Mozambique ‘Secret Debt’
By Editors | 20/10/2021
Transactions that raised over $1bn were used to “perpetrate a hidden debt scheme”, pay kickbacks to investment bankers, and bribe government officials.
Anti-Money Laundering
India, US Pledge to Take Stronger Action Against Financial Crime
By Editors | 20/10/2021
Indian finance minister Nirmala Sitharaman and US treasury secretary Janet Yellen also pledged to further engage on climate change.
Anti-Money Laundering
Singapore Consults on Amendments to Accountants Act
By Sanday Chongo Kabange | 20/10/2021
Under the changes, ACRA can conduct inspections on accountants for compliance with AML/CFT requirements, and impose penalties for non-compliance.
Fraud, Scams & Cybercrime
UPDATED – BOT Calms Nerves Amid Large Scale Bank Card Fraud
By Pongnut Thanaboonchai | 18/10/2021
More than 10,000 card holders have experienced unatuthorised transactions on credit and debit cards issued by several Thai banks.
Anti-Money Laundering
SFC Penalises IPO Sponsor Over Substandard Due Diligence Work
By Editors | 18/10/2021
Ample Capital Limited failed to conduct adequate due diligence on suspicious cash settlements and to keep proper records of its due diligence work.
Fraud, Scams & Cybercrime
HK Court Jails Former Convoy, Gransing Executives
By Editors | 17/10/2021
Former Convoy executives conspired to dishonestly arrange for bond placement commissions to be diverted to a company they substantially owned.
JOIN OUR NEWSLETTER
An exclusive weekly selection of top stories from the Regulation Asia editorial team.