Anti-Money Laundering

Japan FSA Sets Hard Deadline for Full AML/CFT Compliance

07/06/2021

The FSA has directed FIs to formulate a plan that ensures full compliance with its AML/CFT guidelines by March 2024.

Credit Risk

Taiwan Raises Cap on SME Loan Package

07/06/2021

The cap on the special loan package for SMEs is being raised from TWD 300 billion to TWD 400 billion, with room for further increases if necessary.

Trading & Investment

SEBI Allows Foreign Funds to Transfer Securities to IFSC Off-Market

07/06/2021

Off-market transfers lower the costs associated with relocating funds to Gift City and make it a more attractive investment destination.

Anti-Money Laundering

BSP Orders Banks to Enhance STR Filing Processes

07/06/2021

Incorrect STR filings, as identified by the AMLC in a recent review, could downplay the risk and prioritisation of STRs, particularly when they involve high-risk crimes.

Conduct, Culture & Accountability

Hong Kong: Appeals Tribunal Overturns Ban Against UBS Banker

07/06/2021

The SFAT concluded that the former UBS banker cannot be held personally responsible for the failings of the China Metal Recycling transaction team.

Supervision & Enforcement

SEBI Enters MOU with Luxembourg Securities Regulator

07/06/2021

The MOU will facilitate mutual assistance, supervisory cooperation, and effective enforcement in the securities markets.

Fraud, Scams & Cybercrime

US DOJ Forms Ransomware and Digital Extortion Task Force

06/06/2021

The task force will be used to coordinate efforts to combat ransomware attacks, which will now be treated with the severity of terrorism threats.

Anti-Money Laundering

HK Customs Arrests Two for Laundering $5.6 Million

06/06/2021

Two people were arrested for using personal bank accounts to receive payments from the sale of counterfeit goods and launder money.

Cloud & Infrastructure

APRA Publishes New Guide on Using New Data Collection Platform

06/06/2021

The guide provides comprehensive information to assist users in accessing, navigating and using APRA Connect.