...........While the banking regulator is seen to have performed its duty rather conservatively in the past, officials said it has to get its act together to be effective to deal with the challenges posed by "the new wave of white-collar financial crime". "The dinosaur-like approach may not work anymore. It is a fact that they have performed their role well in the past but now it is time to be more proactive," said a senior government official who did not wish to be identified.......
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