Financial Regulation

Exchange Fund Bills Tender Results Announced

The Hong Kong Monetary Authority announced the tender results for Exchange Fund Bills on March 10, 2026. The results detail the amounts applied for and allotted, along with accepted yields for various bill issuances.

HKMA Scam Alert: Fraudulent Websites and Scams Targeting Bank Customers

The Hong Kong Monetary Authority (HKMA) has issued a scam alert regarding fraudulent websites and scams targeting bank customers. The alert highlights specific instances reported by The Bank of East Asia and Shanghai Commercial Bank Limited, warning the public about phishing attempts and advising on protective measures.

Updated Sanctions Notice for ISIL (Da'esh) / Al-Kaida

The Swiss State Secretariat for Economic Affairs (SECO) has updated its sanctions database following a UN sanctions committee decision on February 27, 2026. The update concerns individuals, companies, and organizations linked to ISIL (Da'esh) and Al-Qaeda. This change is directly applicable in Switzerland.

FINMA Contacts Bank After US Names it Money Laundering Concern

FINMA is in contact with MBaer Merchant Bank AG and FinCEN after the US designated the bank as a primary money laundering concern. FinCEN is proposing measures under the USA PATRIOT Act, which are currently undergoing public consultation. FINMA has appointed an audit agent at the bank.

FINMA Orders MBaer Merchant Bank AG Liquidation Due to Money Laundering Controls

Switzerland's FINMA has ordered the liquidation of MBaer Merchant Bank AG due to serious, systematic shortcomings in anti-money laundering controls and enabling clients to circumvent asset freezes. This follows FINMA's withdrawal of the bank's license, which is now effective after the bank withdrew its appeal.

Switzerland Updates Iran Sanctions List

The Swiss Federal Department of Economic Affairs, Education and Research (WBF) has updated annexes and the list of sanctioned individuals, companies, and organizations related to Iran. Financial intermediaries are required to implement prohibitions, freeze assets, and report affected business relationships.

Updated Sanctions List for Taliban

The Swiss State Secretariat for Economic Affairs (SECO) has updated its sanctions list concerning individuals and entities linked to the Taliban, effective March 11, 2026. Financial intermediaries are required to implement the prohibitions, freeze assets, and report relevant business relationships to SECO.

Capital Asia Investments Investigated for Money Laundering and Compliance Failures

The Monetary Authority of Singapore (MAS) and the Police are investigating Capital Asia Investments Pte Ltd and its directors for suspected money laundering and compliance failures. Over S$160 million in assets were seized, and two directors were arrested as part of the ongoing investigation.

MAS Issues Environmental Risk Transition Planning Guidelines

The Monetary Authority of Singapore (MAS) has issued new Guidelines on Environmental Risk Management - Transition Planning for banks, insurers, and asset managers. These guidelines set supervisory expectations for managing climate-related transition and physical risks, taking effect from September 2027.

PSR Fines Bank of Ireland UK £3.7m for Confirmation of Payee Failure

The Payment Systems Regulator (PSR) has fined Bank of Ireland UK £3.7m for failing to implement the Confirmation of Payee system by the required deadline. This failure left over 1.14 million new payees and approximately £6.9 billion in payments unprotected against fraud.