ADVERTISEMENT
Anti-Money Laundering
PBOC Promises Crackdown on Illegal Overseas Gambling
By Editors | 16/06/2020
Payments industry stakeholders are directed to strengthen customer identification, report suspicious transactions, and improve surveillance.
Fraud, Scams & Cybercrime
Two Singaporeans Charged for Cheating Eight Banks
By Editors | 15/06/2020
Two former employees of a crude oil products supplier allegedly created fictitious sales contracts and invoices to obtain $340mn in financing from eight banks.
Supervision & Enforcement
ASIC Expects Higher Industry Levies for 2019-20
By Editors | 15/06/2020
The two biggest levy components are enforcement and surveillance which are 27% and 47% higher year-on-year, respectively.
Fraud, Scams & Cybercrime
India Proposes to Decriminalise Bounced Cheques
By Editors | 15/06/2020
Currently in India, bounced cheques can carry a jail sentence of up to two years and a fine up to twice the value of the cheque, or both.
KYC & CDD
Bank of Papua New Guinea Eyes KYC Utility
By Editors | 15/06/2020
A KYC utility will reportedly be introduced next year as a joint project between Pacific Island countries – Samoa, Tonga, Vanuatu, Fiji, Solomon Islands and PNG.
Anti-Money Laundering
HKMA Spotlights RegTech Use to Implement AML/CFT Measures
By Manesh Samtani | 15/06/2020
The HKMA outlines four regtech use cases that support the effective implementation of AML/CFT measures at Hong Kong banks.
Anti-Money Laundering
PBOC to Regulate Large Cash Transactions in 2yr Pilot Programme
By Editors | 15/06/2020
Hebei, Zhejiang and Shenzhen will participate in a two-year pilot programme where large cash transactions beyond a fixed threshold will have to be registered.
Anti-Money Laundering
AUSTRAC Ups Ante in Westpac Money Laundering Case
By Editors | 14/06/2020
AUSTRAC has requested information from Westpac on additional child exploitation cases the bank detected in its lookback, potentially to use in penalty negotiations.
Fraud, Scams & Cybercrime
Malaysia: Former Trust Consultant Jailed for Securities Fraud
By Editors | 13/06/2020
The former consultant promised investors guaranteed returns but used the monies they paid for share trading in her personal account.
Anti-Money Laundering
Shanghai Police Detain Anxin Trust Controller Over Illegal Loans
By Editors | 12/06/2020
Police have detained Anxin Trust’s biggest shareholder for lending assets under management in trust products to friends and other associates.
JOIN OUR NEWSLETTER
An exclusive weekly selection of top stories from the Regulation Asia editorial team.