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Fraud, Scams & Cybercrime
UPDATED – Bangladesh Banks Ordered to Block E-commerce Payments
By Editors | 03/09/2021
Bangladesh Bank has directed banks to block e-commerce firms from receiving direct payments from customers.
Conduct, Culture & Accountability
MAS Bans Ex-UOBKH Employees for Making False Statements
By Ranamita Chakraborty | 03/09/2021
The individuals provided false information to MAS when it was checking whether background checks were included in due diligence for the IPO of a Catalist listed company.
Payments & Settlements
PBOC Introduces New Business Reporting Rules for Payment Firms
By Editors | 02/09/2021
Nonbank payment firms must report new products and services, stock market listings, capital increases and other activities classified as ‘significant matters’.
Fraud, Scams & Cybercrime
Singapore Court Charges UK Man in Wirecard Probe
By Ranamita Chakraborty | 02/09/2021
The man faces charges for abetting the falsification of a document that represented Wirecard’s missing money was being held in escrow.
Anti-Money Laundering
Korea Crypto Exchanges Team Up to Develop Travel Rule System
By Manesh Samtani | 02/09/2021
Bithumb, Coinone and Korbit have established a joint venture that will be used to develop systems to meet the travel rule requirement by March 2022.
Credit Risk
CBIRC Probes Ping An Over Property Investments – Report
By Manesh Samtani | 01/09/2021
The probe is aimed at uncovering and containing risk connected to Ping An Insurance Group’s property investment portfolio.
PEPs & Sanctions
AFMA Calls For Speedy Passage of OBU Legislation
By Editors | 01/09/2021
Delays in passing legislation to reform the Offshore Banking Unit regime could harm Australia and undermine how it is perceived by foreign investors.
Fraud, Scams & Cybercrime
CSRC to Eliminate “Fake” Private Equity, Venture Capital Funds
By Editors | 01/09/2021
CSRC chairman Yi Huiman said “fake” private equity funds that are sold to the general public instead of targeted investors will be eliminated.
Supervision & Enforcement
SFC Suspends Former Emperor Representative for 2 Years
By Manesh Samtani | 01/09/2021
The broker transferred client money through bank accounts he owned to help two clients transfer money to/from the Mainland, among other violations.
PEPs & Sanctions
OFAC Fines Bank of China UK for Sudan Sanctions Breach
By Editors | 01/09/2021
BOC UK’s internal customer database did not include reference to Sudan in the name or address fields of two customers despite knowledge of their location.
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