Crypto / Digital Assets

    AML / KYC

    US Agencies Warn of North Korean ATM Cash-out Threat

    By Manesh Samtani | 30/08/2020

    The hacking team uses various techniques to gain access to banks’ SWIFT terminals to enable wire fraud or their payment switch application servers to enable ATM cash-outs.

    Crypto / Digital Assets

    Malaysia, Indonesia Regulators Sign Fintech Cooperation Pact

    By Sanday Chongo Kabange | 24/08/2020

    The agreement aims to facilitate information sharing, provide joint innovation opportunities, and facilitate cross-border referrals of fintech businesses.

    AML / KYC

    SFC Grants In-principle Approval to Virtual Asset Trading Platform

    By Editors | 23/08/2020

    Once conditions for final approval are satisfied, OSL will be able allowed to operate a brokerage and automated trading service for digital assets.

    AML / KYC

    Singapore Crypto Association Publishes Industry Code of Practice

    By Editors | 17/08/2020

    The code is accompanied by a practice guide providing regulatory guidance to facilitate payment services licence applications in Singapore.

    AML / KYC

    New Zealand FIU Boasts ‘Excellent Outcomes’ in June

    By Editors | 12/08/2020

    June saw the restraint of NZ$140mn from alleged money launderer Alexander Vinnik and the seizure of over 30 high-end cars from outlaw motorcycle gangs.

    Crypto / Digital Assets

    Philippines Launches DLT-based Distribution of Retail Treasury Bonds

    By Sanday Chongo Kabange | 29/07/2020

    The launch of ‘Bonds.PH’ paves the way for the unbanked to affordably and easily invest in retail treasury bonds, said National Treasurer Rosalia V. De Leon.

    AML / KYC

    New Report Highlights Ineffectiveness of Global AML/CTF Systems

    By Manesh Samtani | 25/07/2020

    A lot of countries may have strong AML/CTF systems in place, but in practice they are not working, says a new report from the Basel Institute on Governance.

    Crypto / Digital Assets

    Malaysia SC to Engage with Digital Asset Wallet Providers

    By Editors | 24/07/2020

    Digital asset wallet providers are asked to contact the SC for an engagement on their business operations and to provide feedback on a regulatory framework for such providers.

    Capital / Liquidity

    Korean Regulators Approves K Bank Recapitalisation Plan

    By Editors | 23/07/2020

    K Bank’s recapitalisation plan was halted last April, forcing Korea’s first internet-only bank to stop offering loan products. It is now looking to regain ground lost to Kakao Bank.

    AML / KYC

    MAS Seeks Expanded Powers to Address Financial Sector Risks

    By Manesh Samtani | 21/07/2020

    MAS proposes to expand its powers to issue prohibition orders, regulate virtual asset service providers, and impose technology risk management requirements on firms.

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