Operational Risk

Former TSB Executive Fined Over 2018 IT Migration Failure

14/04/2023

TSB Bank’s chief information officer was fined for his management of a key outsourcing relationship fell below expected standards.

AI Risk & Governance

Tiger Brokers Tests ‘TigerGPT’ Chatbot as Investment Assistant

14/04/2023

The OpenAI-powered chatbot is said to be the “first deployment of an AI investment assistant in the brokerage industry”.

Liquidity Risk

MAS Maintains Monetary Policy Stance, Warns of Slow Growth

14/04/2023

MAS said its five successive monetary policy tightening moves since October 2021 have “tempered the momentum of price increases”.

Payments & Settlements

Japanese JCB Cards to be Accepted in Saudi Arabia

14/04/2023

JCB cards will be accepted at Points of Sale and ATMs across Saudi Arabia through a partnership with Saudi National Bank.

Anti-Money Laundering

UPDATED – Singapore Bankers Asked to Avoid Discussing Inflows from China

14/04/2023

Regulators asked private bankers to avoid attributing large fund inflows to Chinese wealth as this is seen as a politically sensitive issue.

Cryptocurrency

LCH to Start Clearing BTC Futures and Options in Q4

14/04/2023

LCH will clear Bitcoin index futures and options contracts traded on GFO-X, an FCA-regulated digital asset derivatives trading venue.

Resolution & Recovery

Korea to Establish New Fund to Support Corporate Restructuring

14/04/2023

State-run banks and the private sector will contribute KRW 1 trillion to the fund, which will be operated by KAMCO.

Structural Regulation

Almost $3b Locked Up in Hong Kong MPF Accounts

14/04/2023

Advocacy group Hong Kong Watch estimates 96,000 people are being prevented from access their MPF funds after they moved to the UK with BNO passports.

Fraud, Scams & Cybercrime

ATO to Compel Banks to Hand Over Landlord Data in Tax Probe

13/04/2023

The Australian Taxation Office is seeking to identify individuals who are failing to meet their tax obligations on residential investment properties.