AML / KYC

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    AML / KYC

    UK Updates Guidance to Implement Travel Rule for Cryptoasset Transfers

    By Editors | 29/07/2023

    The proposed guidance specifies the information on originators and beneficiaries that crypto exchanges and wallet providers must send, receive and verify as part of a cryptoasset transfer.

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    Enforcement

    Taiwan Telecoms Fined for Failing to Prevent Exploitation by Scammers

    By Sanday Chongo Kabange | 28/07/2023

    Taiwan Star and Strait-Telecom were fined for failing to check and verify the identities of service applicants, a breach of the Telecommunications Management Act.

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    AML / KYC

    SEBI Mandates LEI for All Non-Individual FPIs

    By Editors | 27/07/2023

    SEBI is requiring foreign portfolio investors to include their LEI in registration and account opening forms.

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    AML / KYC

    Korea Securities Depository to Promote LEI Adoption in Crypto Market

    By Sanday Chongo Kabange | 27/07/2023

    The KSD and Code have signed a business agreement to promote the issuance and use of LEIs in the virtual asset market.

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    AML / KYC

    US Agencies Call on Firms to Self-Disclose Sanctions Violations

    By Editors | 27/07/2023

    Self-reporting of sanctions and export controls violations make companies potentially eligible for “significant mitigation”.

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    AML / KYC

    Australia: National Digital ID System Could Launch Within 12 Months

    By Editors | 27/07/2023

    Australia’s national digital ID system to revolutionise identity verification, streamline processes and enhance security.

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    AML / KYC

    UK and Australia Illicit Financing Co-ordination Dialogue

    By Editors | 27/07/2023

    High-level dialogue between UK and Australia reaffirms commitment to combat illicit financing and corruption.

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    Enforcement

    Korea Establishes Interagency Investigative Team for Crypto

    By Manesh Samtani | 27/07/2023

    Until new rules for the crypto sector come into force in 2024, the new investigative team will be charged with investigating unlawful trading activities.

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    AML / KYC

    ESMA Withdraws Recognition Decisions for UAE CCPs

    By Editors | 26/07/2023

    The recognition decisions were withdrawn due to the UAE’s including in the EU’s AML blacklist.

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    AML / KYC

    Germany to Establish New Financial Intelligence Bureau

    By Editors | 26/07/2023

    The new Federal Bureau of Financial Intelligence will introduce a new investigations procedure and offer specialised AML training courses.

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