ADVERTISEMENT
Anti-Money Laundering
Westpac Expected to Reveal New AML Provisions in Annual Report
By Editors | 09/10/2019
The bank disclosed since last year that it could be fined for nine years of AML failures, but it has not yet had enough information to make provisions against the possible penalties.
KYC & CDD
BOT Plan to Allow Biometric e-KYC Delayed in Testing
By Editors | 09/10/2019
The BOT had planned to allow the use of biometric identity verification for account opening by Q3 this year, but testing in the sandbox has not yet been completed.
Fraud, Scams & Cybercrime
Singapore Banker Faces 94 Charges for S$1.9m Fraud
By Editors | 08/10/2019
The former banker allegedly told his victims their funds would be placed as fixed deposits or in financial products, resulting in client losses over S$1.9mn.
Anti-Money Laundering
India Establishes High Level Panel on AML/CFT
By Editors | 08/10/2019
The inter-ministerial committee comprises senior officials from government departments, ministries, law enforcement agencies and regulatory bodies, including the RBI, SEBI and IRDAI.
Anti-Money Laundering
Thailand Cabinet Approves Draft AML Regulations
By Editors | 08/10/2019
Under the rules, financial institutions will be required to obtain additional source of funds information from customers for cross-border transfers exceeding 50,000 baht.
Market Abuse
Two Singaporeans Jailed for Spoofing Derivatives Market
By Editors | 08/10/2019
Two former directors of proprietary trading company Joerik Financial were jailed for fraud and dishonest conduct in relation to the trading of futures contracts.
Anti-Bribery & Corruption
China Antigraft Agency Concludes Probe into Former CSRC Chief
By Editors | 07/10/2019
Liu Shiyu has been removed from his government post and had his illegal gains confiscated, but he will remain a member of the CCP due to his cooperation in the probe.
Conduct, Culture & Accountability
SFC Fines SEAVI Advent Ocean Private Equity HK$1mn
By Editors | 07/10/2019
The SFC has reprimanded and fined SEAVI Advent Ocean Private Equity for allowing unlicensed individuals to perform regulated functions, in breach of the Code of Conduct.
Anti-Money Laundering
APG Publishes Final Mutual Evaluation Report for Taiwan
By Editors | 03/10/2019
Taiwan has achieved very significant progress in a short period of time, and supervisors have significantly influenced compliance in a positive way, the APG says in its mutual evaluation report.
Conduct, Culture & Accountability
NAB Sets Aside Additional Remediation Provisions
By Editors | 02/10/2019
Combined with what has already been set aside, the new A$832mn in provisions for customer-related remediation brings total provisioning to over A$2bn.
JOIN OUR NEWSLETTER
An exclusive weekly selection of top stories from the Regulation Asia editorial team.