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Operational Risk
BSP Amends Operational Risk Guidelines to Include ‘People Risk’
By Sanday Chongo Kabange | 13/10/2020
The BSP wants banks and NBFIs to embed in their ERM framework measures to identify, measure, monitor, and control human resource related risks.
PEPs & Sanctions
RegTech Asia 2020: Sanctions & PEPs Screening
By Editors | 13/10/2020
What role do data and technology play in protecting financial institutions from exposure to the risks associated with sanctions and PEPs?
Anti-Money Laundering
US Justice Dept Publishes Cryptocurrency Enforcement Framework
By Editors | 13/10/2020
The framework provides a detailed threat overview, cataloging the three categories into which most illicit uses of cryptocurrency typically fall.
Emerging Prudential Risks
APRA to Align Prudential Standards with IAIS ComFrame
By Editors | 13/10/2020
APRA has designated QBE Insurance Group as an internationally active insurance group, which will promote coordination with other international supervisors.
Anti-Money Laundering
RegTech Asia 2020: The Evolution of Typologies
By Editors | 12/10/2020
How have financial crime typologies been evolving in recent years, and how are they being used by financial institutions to combat crime?
Anti-Money Laundering
RegTech Asia 2020: The Future of AML & Fraud Case Management
By Editors | 11/10/2020
How can current practices in AML and fraud case management and investigations be enhanced with technology and data for better, faster outcomes?
PEPs & Sanctions
US Imposes Sanctions Against 18 Iranian Banks
By Editors | 11/10/2020
FIs transacting with the sanctioned banks after a 45-day wind-down period may expose themselves to secondary sanctions or be subject to an enforcement action, Treasury said.
Anti-Money Laundering
AUSTRAC Publishes Financial Crime Guide on Illegal Wildlife Trade
By Manesh Samtani | 11/10/2020
The guide offers indicators FIs can use in profiling and transaction monitoring to target, identify and stop financial transactions associated with illegal wildlife trafficking.
KYC & CDD
Hong Leong Bank Launches Digital Account Opening
By Editors | 08/10/2020
Hong Leong has become the first Malaysia bank to launch “fully digital” account opening, just three months after BNM’s new e-KYC guidelines took effect.
Fraud, Scams & Cybercrime
UOB Credited for Helping Recover Stolen Funds
By Editors | 08/10/2020
Collaboration with UOB attests to the importance of a strong partnership with community stakeholders to effectively combat scams and transnational fraud, the Police said.
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