Fraud, Scams & Cybercrime

ICAC Charges Two for Conspiracy to Defraud Five HK Banks

28/10/2019

Two operators of an SME conspired to defraud DBS Bank, HSBC, ICBC, Dah Sing Bank, Wing Hang Bank, the Trade and Industry Department, and the Hong Kong Mortgage Corporation.

KYC & CDD

Australia Introduces Bill to Ease CDD Compliance Burden

27/10/2019

The bill allows reporting entities to rely on CDD procedures performed by a third party. Meanwhile, a bill to limit cash payments to A$10,000 nationwide passes the lower house.

Structural Regulation

New Zealand Delays Start of New Licensing Regime

27/10/2019

The start date is being delayed to coincide with the date new regulations needed for transitional licensing take effect.

Structural Regulation

BOT Solicits Comments on Draft ‘Thailand FX Code’

27/10/2019

The BOT invites wholesale FX market participants to comment on a draft ‘Thailand FX Code’ by 25 November.

Market Data & Technology

TSE to Explore New Uses for Margin Trading, Short Selling Data

26/10/2019

Data relating to margin transactions and short selling will be made available to testing participants to identify possible new applications of the data.

Operational Risk

HKMA Updates Guidance on E-Banking Risk Management

25/10/2019

The updated supervisory policy manual seeks to strengthen risk management controls in electronic banking channels by providing more principle-based guidance.

Emerging Prudential Risks

APRA Seeks More Funding to Address Capability Review Findings

25/10/2019

In his opening statement to a Senate estimates hearing this week, APRA chairman Wayne Byres said the regulator will need additional resourcing to deliver on its objectives.

Liquidity Risk

BSP Announces New Round of Reserve Requirement Cuts

25/10/2019

The fresh 100bp RRR cut follows a 100bp cut announced last month and a three-step 200bp cut from May to July this year.

Cloud & Infrastructure

Australia Senate Committee Releases Fintech, Regtech Issues Paper

25/10/2019

The issues paper identifies five key factors for the fintech and regtech sectors which the committee will focus its attention on in a year long inquiry.