Financial Crime

Sustainable Finance

Thailand SEC, UK Govt to Collaborate in Financial Sector

By Editors | 02/09/2020

The initial focus areas of the partnership will include green bonds, the fintech ecosystem, e-KYC and cybersecurity, the SEC and UK government said.

Anti-Money Laundering

BNM Issues Guidance Documents on AML/CFT Obligations

By Editors | 02/09/2020

Guidance is provided for financial institutions, DNFBPs and NBFIs on AML/CFT and targeted financial sanctions, customer due diligence and beneficial ownership.

Structural Regulation

SFC to Enhance OFC Regime to Level Playing Field

By Manesh Samtani | 02/09/2020

The SFC will remove investment restrictions, expand custodian eligibility requirements, and introduce a statutory re-domiciliation mechanism.

Fraud, Scams & Cybercrime

US DOJ Files Civil Forfeiture Complaint to Recover Stolen Crypto

By Manesh Samtani | 31/08/2020

The two crypto exchange hacks detailed in the complaint are linked to the same group of Chinese actors who laundered over $250mn in stolen cryptocurrency for North Korea in 2018.

Trade Based Money Laundering

Trade-based Money Laundering: Avoiding Murky Waters

By Jamil Ahmed | 31/08/2020

HSBC Singapore’s Jamil Ahmed calls for continued vigilance, the use of technology, and participation in public-private partnerships to mitigate trade-based money laundering risks.

Fraud, Scams & Cybercrime

US Agencies Warn of North Korean ATM Cash-out Threat

By Manesh Samtani | 30/08/2020

The hacking team uses various techniques to gain access to banks’ SWIFT terminals to enable wire fraud or their payment switch application servers to enable ATM cash-outs.

Market Abuse

CSRC Drafts Rules to Force Issuers to Repurchase Fraudulent Issuances

By Lucy Zhang | 27/08/2020

Stock issuers may be ordered to repurchase shares if they conceal material facts or fabricate information in securities issuance documents.

Cybersecurity

DDoS Attacks Force Fourth Day of Market Closure at NZX

By Manesh Samtani | 27/08/2020

The hacker group said to be responsible has reportedly also carried out attacks against MoneyGram, YesBank India, Worldpay, PayPal, Braintree and Venmo this week.

Supervision & Enforcement

CSRC Publishes Classification Results for Securities Firms

By Editors | 27/08/2020

The classification reflects securities firms’ governance structures, risk management capabilities, continuous compliance status, and business development status.