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KYC & CDD
RBNZ Calls on Banks to Avoid De-risking Pacific Island Nations
By Ranamita Chakraborty | 03/05/2021
The RBNZ and RBA are working with Pacific Island nations to develop a regional KYC facility, to support businesses in meeting their compliance obligations.
Fraud, Scams & Cybercrime
SG Police Lays 23 Forgery Charges Against Hin Leong Founder
By Editors | 03/05/2021
Lim Oon Kuin now faces a total of 25 charges – 14 counts of abetment of forgery for the purpose of cheating, and 11 counts of abetment of forgery simpliciter.
Anti-Money Laundering
Data Analytics Becoming Embedded at Singapore FIs
By Manesh Samtani | 02/05/2021
The increased use of data analytics and digital processes has led to increased AML/CFT effectiveness, according to Assistant Managing Director Ms Loo Siew Yee.
Anti-Money Laundering
AUSTRAC Issues Guidance on Filing More Effective SMRs
By Editors | 02/05/2021
The new resources include a reference guide and checklist, and feature guidance on how to write succinct, accurate and clear grounds for suspicion.
Structural Regulation
China Regulators Order Tech Firms to Rectify Violations
By Manesh Samtani | 02/05/2021
Thirteen tech firms including Tencent, ByteDance and Baidu’s fintech arm are directed to correct regulatory violations in their financial services businesses.
Fraud, Scams & Cybercrime
Australian Court Charges Woman for Superannuation Fraud
By Editors | 01/05/2021
A woman is said to have submitted multiple false hardship claims on behalf of others to gain early access to A$330,000 in superannuation.
Fraud, Scams & Cybercrime
SG Police Issue Forgery Charges in Nickel Trading Fraud Case
By Editors | 30/04/2021
With the latest charges, Ng Yu Zhi now faces a total of 11 counts of cheating, fraudulent trading and forgery. He will return to court on 17 May.
Anti-Money Laundering
FATF Publishes New Zealand Mutual Evaluation Report
By Manesh Samtani | 30/04/2021
Of the 40 recommendations, New Zealand is ‘Compliant’ on 8, ‘Largely Compliant’ on 20, and ‘Partially Compliant’ on 12.
Anti-Money Laundering
Australia Scraps Plan to Introduce Beneficial Ownership Register
By Ranamita Chakraborty | 30/04/2021
Senator Jane Hume reportedly refused to back the register, a move experts say will entrench Australia as a money laundering haven.
Supervision & Enforcement
SEC Thailand Seeks Investigative, Prosecutorial Powers
By Editors | 29/04/2021
The SEC seeks powers to investigate and prosecute its own cases and speed up enforcement against capital market violations.
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