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Credit Risk
Regulatory Relief for Thai Banks to Raise Systemic Risk: S&P
By Pongnut Thanaboonchai | 22/09/2021
The average NPL ratio at Thai banks will likely rise to 6% next year, the highest level since the 2009 GFC, S&P Global Ratings says.
PEPs & Sanctions
US Sanctions Crypto Firm Over Ransomware Payments
By Editors | 21/09/2021
OFAC has designated crypto OTC broker Suex, which operates from Russia, for facilitating transactions involving the proceeds of ransomware payments.
Anti-Money Laundering
Basel AML Index Calls Out Ineffectiveness Across Jurisdictions
By Manesh Samtani | 21/09/2021
Areas of AML/CFT policy that urgently need more attention are virtual assets, implementation effectiveness, beneficial ownership, and DNFBPs.
Fraud, Scams & Cybercrime
HK Court Convicts Former Convoy Executives for Fraud
By Editors | 21/09/2021
Former Convoy executives conspired to dishonestly arrange for bond placement commissions to be diverted to a company they substantially owned.
Anti-Bribery & Corruption
Corruption, Bribery Seen as Key Challenges in 2020: Kroll
By Ranamita Chakraborty | 20/09/2021
A Kroll survey found that 82% of senior decision-makers for risk strategy felt corruption significantly impacted their organisations in 2020.
Conduct, Culture & Accountability
FSS Korea to Appeal Ruling Nullifying Woori Chairman Ban
By Editors | 20/09/2021
The appeal will follow a court decision to nullify an FSS decision to ban Woori Financial Group chairman Sohn Tae-seung for three years.
Conduct, Culture & Accountability
US Fed to Review Ethics Rules Following Disclosures by Officials
By Editors | 19/09/2021
Financial disclosures filed by senior Fed officials showed multiple stock trades in 2020 worth millions of dollars, raising concerns over conflicts of interest.
Market Abuse
CSRC Forms Inter-agency Group to Rein in Capital Market Crime
By Editors | 18/09/2021
The group will enhance coordination between the central and local government agencies to better enforce against and punish capital markets misconduct.
Supervision & Enforcement
Malaysia Secures Settlement from KPMG to Resolve 1MDB Claims
By Editors | 18/09/2021
The settlement concludes a civil suit filed against KPMG and its current and former partners over the audits 1MDB’s 2010-2012 financial statements.
Fraud, Scams & Cybercrime
Philippine Lawmaker Introduces Bill to Tackle Rising Cybercrime
By Ranamita Chakraborty | 17/09/2021
The bill requires banks and non-bank FIs to “exhaust all means to ensure that victims are able to recover their monetary loss, if any”.
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