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AML / KYC
EBA’s New AML Database Set to Start Receiving Personal Data
By Editors | 05/05/2024
EuReCA was launched by the EBA in January 2022, but has so far not yet been able to collect personal data from EU supervisors.
AML / KYC
Tether to Start Monitoring Secondary Market for USDT
By Editors | 04/05/2024
Through a partnership with Chainalysis, Tether will provide sanctions monitoring, an illicit transfers detection tool, and analysis on major USDT holders.
AML / KYC
New Zealand Regulators Issue Updated CDD Guidelines
By Editors | 03/05/2024
Updated guidelines on beneficial ownership, company CDD, and enhanced CDD. New guideline on CDD for limited partnerships.
AML / KYC
Australia: Scam Losses Fall for the First Time in Six Years
By Manesh Samtani | 03/05/2024
In its latest report on annual scam activity, the ACCC highlighted government and industry initiatives that led to lower scam losses in 2023.
AML / KYC
Australia Consults on Anti-Foreign Bribery Guidance
By Editors | 03/05/2024
The consultation follows the passage of legislation in February to introduce the new “failure to prevent” foreign bribery offence.
AML / KYC
Singapore: Two More Sentenced in Money Laundering Case
By Nithya Subramanian | 03/05/2024
Cambodian Su Baolin and Chinese national Zhang Ruijin were sentenced to jail and required to forfeit a combined S$183mn in assets.
Enforcement
Canada’s FINTRAC Imposes AML Penalty on TD Bank
By Mark Johnston | 03/05/2024
The $6.7mn fine is the largest-ever levied by FINTRAC. TD Bank has separately provisioned $450mn for potential US penalties.
AML / KYC
China Issues New Rules on Beneficial Ownership Registration
By Manesh Samtani | 03/05/2024
The new regulations will come into effect on 1 November 2024. Existing in-scope entities will have until 1 November 2025 to register beneficial owner information.
Sanctions
US Senators Raise Concerns Over Iran’s Crypto Mining
By Editors | 03/05/2024
A letter from two US senators asks government officials about the steps being taken to address Iranian crypto mining and sanctions evasion.
AML / KYC
NZ Banks Set to Start ‘Confirmation of Payee’ Implementation
By Sanday Chongo Kabange | 03/05/2024
NZBA has identified a preferred provider for the service and will soon start the technical build for the payments system.
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