AML / KYC

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    Crypto / Digital Assets

    FATF Publishes Update on VA, VASPs Standards Implementation

    By Jill Wong | 28/06/2023

    The latest FATF review on country compliance finds that markets are continuing to struggle with FATF requirements to regulate virtual asset service providers.

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    AML / KYC

    AUSTRAC Issues New Guidance to Address Debanking

    By Sanday Chongo Kabange | 28/06/2023

    AUSTRAC discourages the “indiscriminate and widespread closure of accounts across entire industries”.

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    AML / KYC

    AUSTRAC Developing New National Risk Assessments

    By Sanday Chongo Kabange | 27/06/2023

    AUSTRAC to develop national risk assessment on terrorism financing by late 2023, and on money laundering by early 2024.

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    AML / KYC

    Russia Identified as “High Risk” Jurisdiction in New Report

    By Manesh Samtani | 27/06/2023

    AML think tank Themis says the threat Russia poses to the integrity of the global financial system has been increasing.

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    AML / KYC

    CalPERS, Genworth Hit by Data Breach in MOVEit Hack

    By Mark Johnston | 26/06/2023

    CalPERS, the largest US pension fund, and insurer Genworth Financial have disclosed that customer data was breached in the MOVEit hack.

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    Crypto / Digital Assets

    BSP Urged to Take Action Against Unregistered Crypto Exchanges

    By Mark Johnston | 26/06/2023

    Infrawatch PH says exhibiting leniency toward unregistered crypto exchanges risks the Philippines remaining on the FATF gray list.

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    AML / KYC

    Canada Progresses Bill to Create Beneficial Ownership Registry

    By Mark Johnston | 26/06/2023

    The bill will require federally registered companies to disclose beneficial owners with at least 25 percent ownership or control.

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    AML / KYC

    Malaysia Threatens Legal Action Over ‘Harmful’ Facebook Content

    By Sanday Chongo Kabange | 26/06/2023

    Bursa Malaysia has backed the communications regulator’s move to take action against Meta for its failure to remove scam posts.

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    AML / KYC

    UK Banks to Pilot AML Data Sharing from October – Report

    By Editors | 26/06/2023

    One pilot will allow banks to share data if they suspect financial crime. Another pilot will involve the launch of a database for suspected economic crime.

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    AML / KYC

    FATF Plenary: Cameroon, Croatia and Vietnam Added to Grey List

    By Manesh Samtani | 26/06/2023

    The FATF will publish on 27 June its fourth update on the implementation of the recommendations on virtual assets and VASPs.

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