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AML / KYC
Australia: Budget Measures Provide Boost to Scam Prevention
By Editors | 30/10/2022
The budget also includes funding for APRA and ASIC to increase their staff numbers, an independent review of the carbon market, and the introduction of climate reporting standards.
AML / KYC
Top Prosecutor Arrests Former China Merchants Bank President
By Editors | 29/10/2022
The arrest followed the completion of an investigation into allegations of bribery, abuse of power, and trading on nonpublic information.
AML / KYC
Wolfsberg Group Updates Guidance on Correspondent Banking
By Editors | 28/10/2022
The updated Financial Crime Principles for Correspondent Banking includes guidance on what respondent banks may face when seeking a correspondent banking relationship.
AML / KYC
AUSTRAC Issues New Guidance on Preventing TBML
By Sanday Chongo Kabange | 28/10/2022
The guidance describes the most common TBML methodologies and provides indicators and behaviours to help financial service providers detect and report suspicious activity.
AML / KYC
Korea to Increase Scrutiny of Money Laundering Risks via Crypto
By Editors | 27/10/2022
The FSC will increase scrutiny of crypto tokens listed by just a single VASP, stablecoin transaction volumes, and customers making large deposits.
AML / KYC
NLP for Regulatory Compliance: A Question of When, Not If
By Irene Liu | 27/10/2022
Accenture’s Irene Liu and team discuss the use of NLP technology within compliance functions, as well as the adoption challenges and how to address them.
AML / KYC
Hong Kong Customs Arrests Two for Laundering HK$3.5bn
By Editors | 27/10/2022
The money was laundered by reselling precious metals. The case is the largest-ever money laundering case for Hong Kong Customs.
AML / KYC
RBI Grants First Vostro Approvals to Russian Banks
By Editors | 26/10/2022
Sberbank and VTB Bank have been granted approval to open vostro accounts in India to settle rupee trade transactions.
AML / KYC
UK: Industry Calls for Clear Rules on Data Sharing to Combat Scams
By Mark Johnston | 26/10/2022
RUSI and Stop Scams UK say policy changes are needed to allow data sharing for the purpose of combatting scams.
AML / KYC
NZ DIA Lists Common Areas of AML Non-Compliance
By Editors | 24/10/2022
Common areas of non-compliance related to AML/CFT risk assessments, staff training, PEP identification, and compliance monitoring, among other areas.
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