Crypto / Digital Assets

Thailand Refines Rules for Crypto Firms, Issues Draft Rules for Banks

15/07/2022

The SEC amended capital requirements and other rules for crypto firms. The BOT issued draft rules for banks dealing in crypto. Two crypto exchanges were penalised.

AML / KYC

GCFFC Offers Recommendations on Improving AML Effectiveness

12/07/2022

PPPs could benefit from the FATF providing a clearer endorsement of their benefits within the global framework, the paper says.

AML / KYC

Hong Kong Publishes ML/TF Risk Assessment Report

12/07/2022

The most prominent ML threats to banks come from fraud, corruption and tax crimes. The main ML threats to the crypto sector relate to fraud and theft.

Market Infrastructure

HK Banks Must ‘Fully’ Participate in New Credit Reference Platform

11/07/2022

The new platform, expected to be launched by year-end, will serve as an interface for lenders and CRAs to share consumer credit information.

AML / KYC

No Specific Customer Type is Automatically Higher Risk: US Agencies

09/07/2022

Banks should use a risk-based approach when managing customer risk, and not decline to provide banking services to entire categories of customers.

AML / KYC

GLEIF Launches vLEI Issuer Qualification Programme

07/07/2022

The vLEI is a digital version of the LEI which can be securely verified online against the source information held in GLEIF’s data repository.

Crypto / Digital Assets

Crypto Industry Seeks Public Sector Support on Sanctions Issues

06/07/2022

More than 15 million crypto addresses have been linked to criminal activity with a nexus in Russia, a new GDF report says.

AML / KYC

Puerto Rico Forces Closure of Bank Involved in Global Tax Probe

06/07/2022

Peter Schiff’s Euro Pacific Bank was forced to close over capital shortfall and regulatory violations. The bank has been at the centre of a global tax evasion probe.

Enforcement

Former Archegos Employee Sues Firm Over Deferred Bonuses

06/07/2022

Archegos employees were “coerced” to invest their bonus money into the firm through a deferred compensation plan, which evaporated when the company collapsed last March.