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Anti-Money Laundering
First Taiwan Crypto Exchange Reports on AML Compliance
By Mark Johnston | 07/10/2021
Eight crypto exchanges were asked to submit AML compliance statements to the regulator by the end of November.
Resolution & Recovery
UPDATED – RBI to Initiate Insolvency Proceedings at Two NBFCs
By Editors | 06/10/2021
Srei Infrastructure Finance and Srei Equipment Finance owe about INR 180 billion in loans to about 15 banks and INR 100 billion in external borrowings and bonds.
PEPs & Sanctions
SWIFT Publishes Guidelines for Screening ISO 20022 Messages
By Editors | 06/10/2021
Richer data in ISO 20022 messages allow financial institutions to potentially reduce false positives in sanctions screening, SWIFT says.
Anti-Money Laundering
MAS Examining Asiaciti Trust Revelations in Pandora Papers
By Editors | 06/10/2021
The Pandora Papers show that Singapore firm Asiaciti Trust had helped politicians and public officials set up trusts and shell companies in secrecy jurisdictions.
Market Abuse
US Inspector General Probes Fed Officials’ Stock Trades
By Sanday Chongo Kabange | 06/10/2021
The Office of Inspector General will conduct an independent review to determine whether Fed officials violated ethics rules and the law.
Fraud, Scams & Cybercrime
HKMA Issues Guidance on Preventing eDDA Fraud
By Editors | 06/10/2021
The HKMA provides good practices banks can use to guard against different fraud scenarios when offering electronic direct debit authorisation services.
Fraud, Scams & Cybercrime
US to Gather 30 Countries to Coordinate Ransomware Response
By Editors | 06/10/2021
The Counter-Ransomware Initiative is aimed at improving law enforcement collaboration and stemming the illicit use of cryptocurrency.
Cryptocurrency
Lack of Crypto Regulation Presents Financial Stability Risk: IMF
By Mark Johnston | 05/10/2021
The IMF says more coordination among national regulators is needed to ensure effective enforcement, reduce regulatory arbitrage, and enhance monitoring of the crypto ecosystem.
Fraud, Scams & Cybercrime
BSP Urges Passage of Bill to Tackle Rising Cybercrime
By Ranamita Chakraborty | 05/10/2021
The bill will strengthen the legal framework for financial consumer welfare and foster greater public awareness on cybersecurity, the BSP said.
Anti-Money Laundering
Pandora Papers Expose Offshore Wealth of Public Officials
By Manesh Samtani | 05/10/2021
Some 35 current and former leaders are featured in the Pandora Papers leak, which contains 11.9 million documents from 14 offshore services firms.
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