AML / KYC

US Imposes Sanctions Against ‘Breakaway’ Regions in Ukraine

22/02/2022

The sanctions come after Russian President Vladimir Putin signed a decree recognising two regions in eastern Ukraine as independent.

AML / KYC

China: Regulators Suspend Implementation of New CDD Rules

22/02/2022

The new rules were meant to take effect on 1 March, but implementation has been suspended “due to technical reasons”.

AML / KYC

AUSTRAC Proposes New Guidance on Performing SoF, SoW Checks

22/02/2022

The draft guidance explains source of funds and source of wealth checks, and when reporting entities should perform such checks using a risk-based approach.

AML / KYC

Philippine AMLC Asks FIs to Guard Against Digital Vote-Buying

21/02/2022

The advisory comes in anticipation of an influx of financial activities that usually occur during elections. The Philippines has a general election on 8 May.

Market Infrastructure

Nepal to Become First Country to Deploy India’s UPI

21/02/2022

Nepal’s UPI is expected to be deployed over the next few months, with all the functionalities and features presently available in India.

RBI to Consolidate Reg Reporting Requirements in Single View

21/02/2022

The RBI will withdraw 100 circulars and consolidate all regulatory reporting and return submission requirements on a single webpage.

AML / KYC

Korea’s KT Corp to Pay $6.3m for FCPA Violations

21/02/2022

KT Corp maintained slush funds for nearly a decade which were used by executives and employees to bribe Korean and Vietnamese officials.

Fintech / Regtech

Taiwan to Complete Second Phase of CBDC Trials By September

21/02/2022

Under the current design, a two-tier system is being used that will allow users to exchange bank deposits with the TWD digital currency.

Fintech / Regtech

BNM Allows Individuals to Complete eCCRIS Registration Digitally

21/02/2022

The enhancements make it more convenient and safer for individual users to register for eCCRIS and access their credit reports, for free, BNM says.