Anti-Money Laundering

US Treasury Outlines Plans to Combat Illicit Finance

17/05/2022

Treasury highlighted efforts to address illicit finance risks associated with shell companies, all-cash real estate purchases, and virtual assets.

Cryptocurrency

South Korea to Enact ‘Digital Assets Basic Act’ in 2023

17/05/2022

More banks will be able to offer services to crypto investors. The Bank of Korea Act will be revised to allow CBDC introduction.

Clearing & Post-Trade

HKEX Sets 13 June Launch Date for New VaR Platform

17/05/2022

The VaR Platform will replace the existing flat-rate model for calculation of margin and HKSCC Default Fund contributions.

Anti-Money Laundering

NSW Ministers Working on New AML Laws – Report

17/05/2022

The NSW attorney general and police minister are working on new laws to tackle unexplained wealth and organised crime.

Credit Risk

China Lowers Mortgage Rates for First-home Buyers

17/05/2022

The move is designed to revive the property market. Last week banks were also directed to adjust how they set deposit rates.

Anti-Money Laundering

HK Police Arrest 17 for Using Virtual Banks to Launder Money

16/05/2022

The syndicate members processed the funds through more than 20 online bank accounts since 2021, police said.

Cryptocurrency

FASB Commences Review of Accounting Rules for Digital Assets

16/05/2022

Crypto industry participants as well as ISDA are calling for the FASB to allow digital assets to be recorded on financial statements at fair value.

Anti-Bribery & Corruption

Myanmar Govt Charges Ex-Central Bank Official with Corruption

16/05/2022

Former CBM deputy governor U Bo Bo Nge is being charged by the military government on allegations that caused losses to the government.

Sustainable Finance

Bursa Malaysia, CIMB Collaborate to Drive ESG Adoption

16/05/2022

CIMB becomes the fourth bank overall, and first home-grown bank, to collaborate with Bursa Malaysia on its #financing4ESG initiative.