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Supervision & Enforcement
China Government Probes Ant Group IPO Approval Process
By Editors | 29/04/2021
Ant Group founder Jack Ma and his relationships with state firms and local officials are also being examined as part of the government’s investigation.
Fraud, Scams & Cybercrime
CBIRC Warns of Crackdown on Illegal Fundraising Activities
By Editors | 29/04/2021
New regulations on the prevention and handling of illegal fundraising activities come into effect from 1 May.
PEPs & Sanctions
UK Establishes New Global Anti-Corruption Sanctions Regime
By Manesh Samtani | 28/04/2021
The UK has made its first 22 designations under the new regime, including individuals in Russia, South Africa, Honduras, Nicaragua, Guatemala and South Sudan.
CBDCs
Macau Amends Legal Framework to Enable Digital Yuan Adoption
By Sanday Chongo Kabange | 27/04/2021
Use of the fully traceable digital yuan will help Chinese authorities curb money laundering and illicit cross-border gambling.
Anti-Money Laundering
Mitigating Illicit Convergence in Transnational Financial Crime
By Editors | 27/04/2021
Rani Hong, Sasha Lezhnev, Ben Spevack and Che Sidanius discuss efforts under way to prevent the illicit exploitation of legal infrastructures for crime.
Credit Risk
PBOC Ratings Results Highlight Drop in High Risk Institutions
By Sanday Chongo Kabange | 27/04/2021
The PBOC found rural institutions and village banks to be the riskiest, accounting for a majority of the 442 institutions that are in the ‘red zone’.
Tokenisation
DBS Goes Live on Trade Finance Network Contour
By Editors | 27/04/2021
Digital LC capabilities will be offered in Australia, China, Hong Kong and Singapore via Contour from this month.
Anti-Money Laundering
HKMA Offers Guidance on Combatting Covid-19 Related Fraud, AML
By Manesh Samtani | 26/04/2021
The guidance emphasises the use of data from internal and external sources, proactive data analysis and information sharing to tackle emerging AML risks.
Anti-Money Laundering
Hong Kong: Six Arrested for Laundering HK$2.5bn
By Sanday Chongo Kabange | 26/04/2021
The six arrested persons opened 60 personal accounts at various banks and made over 2,600 suspicious transactions.
Supervision & Enforcement
Korea FSS Imposes Light Punishments on Shinhan Execs
By Editors | 26/04/2021
Shinhan Bank’s CEO and Shinhan Financial Group’s Chairman received lighter punishments than expected over the Lime mis-selling scandal.
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