The six-month operation led to 585 arrests, more than 1,600 bank account freezes, and the interception of USD 83 million in illicit funds.
June 2, 2021FIs and VASPs can be penalised for failing to report and maintain records of suspicious transactions, and failures to properly manage customers’ transactions records.
March 11, 2021October’s 10-bank pilot attracted over 5.5 million bank accounts with the open banking service now expanded to include eight additional banks and fintech firms.
December 2, 2019Government has made abrupt about turn to legitimize cryptocurrencies by bringing them under greater regulatory purview.
December 18, 2017People’s Happiness Fund will purchase more than half the debt, remainder will be written off using private sector funds.
November 30, 2017Existing OTC platform has not been successful due to institutional investors’ concerns about having to give details of their trading strategies.
November 20, 2017Financial Investment Association says Chain ID is a world first, authentication only has to be performed once every three years.
November 9, 2017Regulator calls on banks to strictly screen mortgage applications as household debt increases by $15.9bn over July and August.
September 21, 2017FSC to come up with deregulation plan by end-of year; wants more challengers to financial sector incumbents after approval of internet-only banks.
August 23, 2017Ban follows Korean order to repay $36.95mn of illegal profit from stock index trades.
November 18, 2016