Conduct, Culture & Accountability

CBIRC Proposes New Rules on Consumer Rights Protection

22/05/2022

The proposed rules prohibit misleading sales, compulsory product bundling, unreasonable charges, and “algorithmic discrimination”.

Anti-Money Laundering

Fugitive Former Banker from Bangladesh Arrested in India

22/05/2022

PK Halder has been on the run since 2019 after allegedly defrauding multiple NBFIs in Bangladesh of more than $280,000.

Fraud, Scams & Cybercrime

Australia: FSC Calls for Measures to Stop Online Scam Ads

22/05/2022

The Financial Services Council is calling for the introduction of a mandatory code of conduct for digital platforms like Facebook and Google to prevent financial scams.

Fraud, Scams & Cybercrime

Korea: Shinhan Bank Discovers Embezzlement by Employee

22/05/2022

Days earlier a Woori Bank employee was arrested for embezzling KRW 61.4 billion between 2012 and 2018.

Conduct, Culture & Accountability

China to Centralise Efforts to Resolve Overdue Payments to SMEs

22/05/2022

The campaign aims to resolve arrear payments due to SMEs for projects, goods and services purchased by government agencies, state-owned institutions and large enterprises.

Structural Regulation

RBI Assesses Six Applicants Unsuitable for Banks Licensing

22/05/2022

RBI had received 11 applications to set up universal banks and small finance banks. The RBI (Reserve Bank of India) […]

Credit Risk

Taiwan Mulls Additional Measures to Curb Property Lending

22/05/2022

The measures include shortening mortgage loan tenors from 30 to 20 years for corporate buyers and owners of multiple homes.

Structural Regulation

New Visa Rules Will Not Hinder Access to Foreign Talent: Menon

21/05/2022

MAS managing director Ravi Menon addressed concerns that a revised scoring system for employment pass applicants could impede hiring by Singapore FIs.

Fraud, Scams & Cybercrime

ASIC Cautions Against Purchasing ‘Fake Green Bonds’

21/05/2022

ASIC says retail investors who are approached to invest in green bonds should ask their banks for help to check the legitimacy of the offer.