Anti-Money Laundering

Bangladesh Grants Amnesty for Repatriation of Offshore Assets

04/07/2022

The government will provide amnesty for those that choose to repatriate their offshore assets to Bangladesh and pay a 7% tax.

Credit Risk

HKMA Explores Use of Deep Learning for Credit Risk Assessment

04/07/2022

A trained model was able to consistently detect corporate credit deterioration at both the transaction level and aggregate level with a three-month lead time.

Payments & Settlements

Australia Commences Roll-out of New Payments Service PayTo

04/07/2022

PayTo checks upfront for adequate funds in the paying customer’s account at payment initiation, reducing rejected payments and manual exception handling.

Alternative Markets

Malaysia SC Expands Tax Incentives Available to VC Firms

04/07/2022

VCCs can claim exemptions from tax on all income other than interest income from savings or fixed deposits and profits from Shariah-based deposits – for a period of up to five years.

Cryptocurrency

Binance to Help Cambodia Develop Crypto Regulatory Framework

04/07/2022

Binance signed an MoU with Cambodia’s securities regulator to support the development of a legal framework for regulating digital asset businesses.

Sustainable Finance

China Approves Launch of First Carbon Neutral ETFs

04/07/2022

Shanghai Environment Energy Exchange approved 8 carbon neutral ETFs, and NAFMII recently launched China’s first batch of interbank transition bonds.

Anti-Money Laundering

FATF Outlines Priorities, Objectives for Singapore Presidency

04/07/2022

The Singapore Presidency will focus on areas such as asset recovery, cybercrime, virtual assets, beneficial ownership, data analytics and corruption.

Fraud, Scams & Cybercrime

US DOJ Files Charges Against Six Individuals Over Crypto Frauds

04/07/2022

Criminal charges were filed in four separate cases of alleged crypto-related fraud, including the largest known NFT scheme charged to date.

Market Abuse

SEBI Fines NSE, Infotech, Six Others Over Algo Trading Scandal

04/07/2022

NSE awarded a contract to Infotech despite conflicts of interest. Confidential NSE data was then misused to develop algorithmic trading software.