AML / KYC

AML / KYC

EBA CLEARING Issues Specifications for New Anti-Fraud Functionality

By Editors | 18/09/2023

Nine banks are engaged in the data model training for the new fraud-fighting functionality in STEP2 and RT1.

AML / KYC

SC Ventures’ Su Kiang Lau Shares How Banks Face Fraud and Cybersecurity Challenges

By Editors | 18/09/2023

Su Kiang Lau, Executive Director – Conduct, Financial Crime and Compliance at SC Ventures, spoke at Regulation Asia’s Fraud & Financial Crime Asia 2023 event on 13 July. At the sidelines of the event, he discussed how banks are looking at major challenges such as fraud, cybersecurity crime and data security. He also shared how Standard Chartered is using data to detect fraud risks.

AML / KYC

Australia Introduces Identity Verification Services Bill to Parliament

By Editors | 17/09/2023

The government said the bill strikes “the right balance between achieving fast and convenient identity verification and maintaining strong standards of privacy and security.

AML / KYC

Sri Lanka Publishes First National Risk Assessment Since 2014

By Duruthu E Chandrasekera | 16/09/2023

The highest risks were identified among informal money remitters, real estate agents, banks and finance companies.

AML / KYC

Philippine SEC Teams Up With US Counterpart, IOSCO to Tackle Securities-related Crime

By Editors | 15/09/2023

The Philippines SEC is looking to strengthen its enforcement capabilities to protect investors from securities fraud and other forms of investment scams.

Crypto / Digital Assets

“Consistency” and “Cooperation” To Form Next Steps in Crypto Regulation

By Jill Wong | 15/09/2023

Chengyi Ong, Chainalysis’ head of policy, APAC, talks to Regulation Asia about the perceived policy direction in crypto regulations.

Enforcement

US Court Sentences Co-Founder of “OneCoin” Fraud to 20 Years

By Editors | 14/09/2023

OneCoin was a fraudulent cryptocurrency that was sold through a pyramid scheme to millions of people from 2014-2016, resulting in $4bn in worldwide losses.

AML / KYC

Singapore Announces New Initiatives to Support Family Offices

By Editors | 14/09/2023

The initiatives will help new family offices orientate themselves in Singapore and strengthen their financial crime compliance capabilities.

AML / KYC

Singapore’s PayNow to End ‘Nickname’ Feature Next Year

By Sanday Chongo Kabange | 12/09/2023

The removal of the nickname option from PayNow has been prompted by growing cases of scams and a need to bolster online security.