AML / KYC

AML / KYC

Taiwan Launches Action Plan to Boost Anti-Fraud Effort

By Editors | 21/06/2023

The action plan includes measures to identify, block, prevent and punish fraud, and improve seizure and recovery practices.

AML / KYC

EBA Calls Out Ineffective AML Risk Management in Payments Sector

By Sanday Chongo Kabange | 21/06/2023

The EBA says money laundering and terrorist financing risks are “not managed effectively” at EU payment institutions.

AML / KYC

Hong Kong Launches AML Information Sharing Platform for Banks

By Manesh Samtani | 21/06/2023

The five banks participating in the pilot phase are BOCHK, Standard Chartered, HSBC, Hang Seng Bank, and ICBC Asia.

AML / KYC

Japan Introduces New Tax Rules for Token Issuers

By Mark Johnston | 20/06/2023

The new tax rules exempt issuers from paying taxes on unrealised gains on tokens they issue and hold.

AML / KYC

Philippines Steps Up Efforts to Exit FATF ‘Grey’ List

By Ranamita Chakraborty | 20/06/2023

The Philippines’ Anti-Money Laundering Council’s executive director Matthew M. David talks to Regulation Asia about its action plan to take the country out of the Financial Action Task Force’s ‘Grey’ List.

AML / KYC

SEBI Amends AML Guidelines for Securities Market Intermediaries

By Editors | 20/06/2023

The guidelines tighten the definition of beneficial ownership and require risk assessments before launching new products and services.

AML / KYC

US Court Orders Binance to Isolate US Business from Global Operations

By Manesh Samtani | 19/06/2023

The SEC said the “emergency relief” helps ensure that Binance.US customers are protected and their assets remain in the US.

Crypto / Digital Assets

HKMA Meets with Crypto Firms on Banking Access Challenges

By Karen Ng | 19/06/2023

Banks operating in Hong Kong should endeavour to meet the legitimate business need of licensed VASPs, the HKMA told Regulation Asia.

AML / KYC

TSB Calls on Meta to Take Responsibility for Social Media Frauds

By Editors | 16/06/2023

TSB says Meta should take five steps to protect consumers, including issuing a commitment to investigating and removing fraudulent content within 24 hours.