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Anti-Money Laundering
Japan FSA to Roll Out New AML System in Fiscal 2021
By Editors | 12/02/2021
The FSA will share access to the new system, which will use AI to monitor for unusual transactions and persons suspected of illegal activity.
Anti-Bribery & Corruption
CSRC Targets ‘Shadow Shareholders’ in New Guidelines
By Editors | 12/02/2021
A 36 month lock up period is being introduced for investors who purchase shares in companies within 12 months before their IPO applications.
Anti-Money Laundering
BSP Warns Banks Against Unlicensed Gaming Operators
By Editors | 11/02/2021
FIs should ensure they have robust risk management and due diligence frameworks in place to prevent transactions with illegal online gambling operators.
Market Abuse
SFC Freezes Brokerage Accounts Linked to Social Media Scam
By Editors | 11/02/2021
One of the SFC’s top priorities for the year is to crack down on ramp and dump scams and other types of market manipulation conducted through social media.
PEPs & Sanctions
US Imposes Sanctions Against Myanmar Military Leaders
By Editors | 10/02/2021
Joe Biden has approved a new executive order enabling the US to immediately sanction the military leaders who directed the 1 February coup in Myanmar.
Cybersecurity
UPDATED: Over 100 Financial Firms Targeted by Single DDoS Attacker
By Editors | 10/02/2021
According to FS-ISAC, retail banking was the top target, accounting for 41% of the attacks, followed by exchanges at 15% and payments at 13%.
Fraud, Scams & Cybercrime
AFCA Compels NAB to Repay Scammed Customers – Report
By Editors | 10/02/2021
The bank had to repay over A$200,000 to an elderly couple after it was unable to produce records showing it had warned them about a cryptocurrency scam.
Fraud, Scams & Cybercrime
Leaked Report Reveals Credit Suisse Culpability in Lescaudron Fraud
By Sanday Chongo Kabange | 09/02/2021
The case involved Patrice Lescaudron, a French banker who was jailed for defrauding clients in 2018 before committing suicide last year following his early release.
Anti-Money Laundering
Philippine SEC Tightens Rules on Beneficial Ownership of Shares
By Ranamita Chakraborty | 09/02/2021
New guidelines will require the disclosure of the identity of the beneficial owners of shares and prohibit the issuance of bearer shares.
Supervision & Enforcement
FINRA Fines HSBC Securities Over Employee Screening Failures
By Editors | 09/02/2021
FINRA fined HSBC Securities $650,000 for failing to screen 2,191 non-registered associated persons for statutory disqualification.
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