Financial Crime

Custody & Infrastructure

SAFE to Pilot Blockchain Based Trade Finance Platform

By Editors | 26/04/2019

China’s foreign exchange regulator has developed an open blockchain platform to help address the inefficiencies of cross-border trade finance.

Anti-Money Laundering

Wolfsberg Group Endorses APAC Toolkit for Tackling Human Trafficking

By Editors | 26/04/2019

The Wolfsberg Group has endorsed the latest Anti Human Trafficking Toolkit from the Thomson Reuters Foundation, tailored for use in Asia Pacific by banks and financial institutions.

Payments & Settlements

MAS Issues Update to E-Payments User Protection Guidelines

By Editors | 26/04/2019

The update addresses situations where customers choose to receive fewer transaction notifications, which could affect their ability to monitor for unauthorised transactions.

Credit Risk

HKMA, SFC Find Opaque Financing Practices at Mainland Owned Banking Group

By Editors | 25/04/2019

Coordinated inspections found that a licensed corporation owned by a subsidiary as well as a bank within a Mainland-based group had adopted “complex, opaque financing arrangements”.

Structural Regulation

UPDATED – K-Bank Financing Plan Halted Amid Antitrust Probe

By Editors | 25/04/2019

KT Corporation was planning to up its stake in the internet-only bank to 34%, but the FSC put its review process on hold amid an FTC antitrust probe.

Cryptocurrency

Japan FSA Raids Two Crypto Exchanges to Check Compliance

By Editors | 25/04/2019

The FSA reportedly wants to ensure appropriate measures have been implemented for customer protection and legal compliance after recent management changes.

Anti-Money Laundering

SFC Imposes 10-Month Ban on Former Guosen Exec

By Editors | 24/04/2019

The 10-month ban on Su Xiqiang, former head of Guosen’s retail brokerage, was a result of improper handling of third-party fund deposits, and a lack of AML controls.

Supervision & Enforcement

Goldman, Gao Hua Securities Agree to $22.3m CSRC Settlement

By Editors | 24/04/2019

Goldman Sachs and its Chinese partner Gao Hua Securities have agreed to an administrative settlement of 150 million yuan for internal control breaches.

Anti-Money Laundering

Delayering AML – Ideal Test Field for Innovative Technologies

By Prasanna Venkatesan | 22/04/2019

AML/CFT is an ideal test field for new technologies given the risk factors and complex challenges Asian banks face, says Synpulse’s Prasanna Venkatesan.