LATEST NEWS

Enforcement

HK SFC Disqualifies Former Luxey International Directors

By Ranamita Chakraborty | 25/05/2023

A Hong Kong court found two former Luxey International directors responsible for fraudulently inflating the price of a corporate acquisition and pocketing the gains.

Fintech / Regtech

PITCH! REGTECH: Rising Digital Crimes Give Urgency to Fraud Detection 

By Karen Ng | 25/05/2023

The prevalence of digital crimes has given urgency to the need by banks to develop cutting-edge fraud detection systems, says DBS Bank’s head of legal & compliance Lam Chee Kin.

Market Infrastructure

Five Eyes Agencies Warn of State Sponsored Cyber Attacks

By Editors | 25/05/2023

Chinese foreign ministry spokeswoman Mao Ning said the joint advisory is a “collective disinformation campaign” from the “empire of hacking”.

AML / KYC

Hong Kong SFC Issues Updated AML/CFT Guidelines

By Editors | 25/05/2023

The updated AML/CFT guideline includes a new stand-alone chapter on regulatory requirements and standards for addressing ML/TF risks associated with virtual assets.

Capital / Liquidity

Regulatory Uncertainty a Key FRTB Implementation Challenge

By Manesh Samtani | 25/05/2023

Persistent regulatory timeline uncertainty is a primary implementation challenge of FRTB in APAC, Murex found in a survey of banks.

Enforcement

PwC Australia Referred for Possible Criminal Investigation

By Sanday Chongo Kabange | 25/05/2023

Treasury referred PwC to the AFP to consider a criminal probe related to a leak of confidential tax policy information.

Capital / Liquidity

FSC Korea Announces Decision to Set CCyB at 1 Percent

By Editors | 25/05/2023

The FSC said there was a need to enhance banks’ loss absorption capacity to prepare for macroeconomic uncertainties and increased risks in the financial sector.

Enforcement

Global Banks Under Probe for Breaking UK Competition Law

By Editors | 25/05/2023

The CMA “provisionally” found that five global banks broke competition law in the aftermath of the global financial crisis.

Enforcement

Shanghai Police Uncover Money Laundering via Livestreamers

By Mark Johnston | 25/05/2023

Shanghai police have uncovered a scheme involving fraudsters who tipped livestreamers to conceal their illicit funds.