Fraud, Scams & Cybercrime

Malaysian Court Orders Crypto Firm Luno to Compensate Customer

01/11/2023

Luno said the withdrawal of funds from the customer’s account was properly authorised. The customer claimed it was not.

Data Privacy

HKMA to Launch Bank Account Data Sharing Pilot by Year-End

01/11/2023

The first phase of the IADS initiative will be for corporate customers. The HKMA hopes to progressively extend it to retail bank accounts from June 2024 onwards.

Operational Risk

MAS Imposes Restrictions on DBS Over Service Disruptions

01/11/2023

DBS has to suspend business acquisitions and non-essential changes to its IT systems, instead dedicating its resources and attention to technology resiliency.

Structural Regulation

Australia Commences Review of 2021 Disclosure Law Amendments

01/11/2023

The review will seek to determine whether the 2021 amendments are working as intended.

Liquidity Risk

BOK, FSS Agree to Share Data on Non-bank Depository Institutions

01/11/2023

The MoU aims to enhance monitoring so BOK can quickly provide liquidity support to non-bank deposit institutions that run into trouble.

Market Risk

BOJ Pledges More Flexibile Yield Curve Control Policy

01/11/2023

The BOJ said its strict cap on long-term interest rates would in principle have “strong positive effects”, but that it could also entail “large side effects”.

Anti-Money Laundering

FATF Consults on Amendments to Recommendation 25 Guidance

01/11/2023

The guidance will support implementation of the revised Recommendation 25, to help address risks from trusts or similar legal arrangements.

Custody & Infrastructure

Thailand’s Kasikorn Bank Acquires Digital Asset Exchange

01/11/2023

Kasikornbank has also established a digital asset custodian, a digital asset fund management company, and a blockchain infrastructure development company.

Payments & Settlements

MAS to Launch POC to Enhance Interoperability for QR Payments

01/11/2023

The POC will explore the feasibility of enabling merchants to accept QR payments from a variety of local and international payment schemes by signing up with a single FI.