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LATEST NEWS
Big Picture
INTERPOL Unveils Results of Global Fraud Risk Assessment
By Editors | 12/03/2024
The assessment specifically identifies Asia as being the “focal point” of pig butchering fraud schemes, especially in poorer countries across the region.
AML / KYC
Singapore’s COSMIC Initiative Will Prioritise Consumer Safeguards
By Nithya Subramanian | 12/03/2024
COSMIC, launching in May, requires banks to implement a number of safeguards to protect legitimate customers from having their information shared.
AML / KYC
Canadian FIs Required to Treat Russia as FATF-Blacklisted
By Editors | 12/03/2024
A ministerial directive requires Canadian FIs to treat every financial transaction connected to Russia as high-risk regardless of size.
Market Infrastructure
SFC Chairman Proposes Adjustment to Stock Connect Threshold
By Editors | 11/03/2024
SFC Chairman Tim Lui has asked mainland policymakers to lower the minimum asset requirement for mainlanders to invest in Hong Kong via Stock Connect.
Crypto / Digital Assets
Bankrupt BlockFi to Achieve Full Recovery for Customers
By Editors | 11/03/2024
BlockFi reached an agreement allowing it to recover $874.5mn from the estates of FTX and Alameda Research, subject to approval by a US bankruptcy judge.
Fintech / Regtech
BOE to Move Data & Analytics Platform to the Cloud
By Editors | 11/03/2024
The move is part of a modernisation programme that will also involve a “controlled set of pilots” of AI tools across the BOE.
Securities / Derivatives
Vietnam Launches New Disclosure System at Hanoi Exchange
By Editors | 11/03/2024
The system has been initially implemented on the HNX. Once fully implemented, the same system will be established at HoSE.
Fintech / Regtech
RBI Tightens Rules for Debit and Credit Card Issuers
By Ajoy K Das | 11/03/2024
Card issuers are now required to put in place mechanisms to monitor the end use of funds for credit cards linked to business accounts.
Market Infrastructure
China Makes More Improvements to Payments Services for Foreigners
By Editors | 11/03/2024
The State Council released new guidelines. Alipay and WeChat Pay teamed up with NetsUnion Clearing Corp to optimise the use of foreign bank cards in China.
ESG / Sustainability
DBS Updates Policy to Phase-out Thermal Coal Exposures
By Nithya Subramanian | 11/03/2024
The new policy is seen to be more in line with Singapore’s sustainable finance taxonomy, which seeks to promote the early phase-out coal plants.
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