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Fraud, Scams & Cybercrime
SG Police Probe 31 Individuals for China Official Impersonation Scams
By Ranamita Chakraborty | 19/04/2021
Victims were instructed to surrender money for fake investigations after being told their bank accounts were involved in money laundering activities.
Capital Adequacy
Philippine Banks May Face ‘Systemic Solvency Distress’: IMF
By Ranamita Chakraborty | 19/04/2021
Bank capital adequacy could fall to 11.7% by 2022 in a baseline scenario, 9.3% in an adverse scenario, and 4.9% in a severe adverse scenario.
Fraud, Scams & Cybercrime
Former AIA Agent Convicted For Fraud Over Signing Fee
By Editors | 19/04/2021
The former representative submitted false income proof statements to deceive AIA into offering him a higher signing fee.
Anti-Money Laundering
China Cracks Down on Payments from Underground Banks
By Sanday Chongo Kabange | 19/04/2021
Criminal groups reportedly colluded with underground banks to launder money by disguising their illegal proceeds as payments for goods.
Structural Regulation
Australia Launches Next Phase of Business Registry Modernisation
By Ranamita Chakraborty | 19/04/2021
Commissioner of Taxation Chris Jordan was appointed Registrar of the new ABRS, which will unify 32 business registers in Australia.
Emerging Prudential Risks
CBIRC Calms Market Fears Over Huarong Restructuring
By Editors | 19/04/2021
The CBIRC says Huarong is actively cooperating with its auditor and will complete its annual report as soon as possible.
Structural Regulation
Gary Gensler Sworn Into Office as New SEC Chair
By Sanday Chongo Kabange | 18/04/2021
Gary Gensler was sworn in as the new SEC chairman three days after the US Senate voted to approve his nomination.
PEPs & Sanctions
US Sanctions Russia Over Election Interference, Cyber Attack
By Manesh Samtani | 16/04/2021
US banks will be barred from purchasing rouble-denominated sovereign bonds in the primary market starting from 14 June.
Anti-Money Laundering
Hong Kong: Nine Arrested for Laundering HK$900 Million
By Editors | 15/04/2021
Part of the laundered funds came from 55 victims of investment frauds and romance scams, police say.
Supervision & Enforcement
BaFin Faces Criminal Probe Over Wirecard Response
By Sanday Chongo Kabange | 14/04/2021
BaFin has been under fire since mid-last year for failing to properly respond to multiple red flags signalling an accounting fraud at Wirecard.
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