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Enforcement
Woori Bank, Crypto Exchange Under Probe for Money Laundering
By Editors | 29/06/2022
This is the first time that a Korean virtual asset exchange and a bank have been used as channels for money laundering, an official said.
AML / KYC
Swiss Criminal Court Convicts Credit Suisse for Money Laundering
By Editors | 29/06/2022
The court said Credit Suisse ignored obvious red flags and did not do enough to prevent a crime syndicate from profiting from cocaine trafficking.
Crypto / Digital Assets
Shenzhen Authorities Issue Warning Against Crypto Speculation
By Editors | 28/06/2022
Domestic staff of overseas crypto exchanges and others engaging in crypto-related business will be investigated.
AML / KYC
Sanctions Force Russian Sovereign Debt Default
By Editors | 28/06/2022
Russia made USD 100 million in payments due on 27 May to Euroclear, but the funds were not delivered to investors due to sanctions.
AML / KYC
AUSTRAC Updates Guidance on Reporting Cash Transactions
By Editors | 28/06/2022
When a customer makes multiple cash transactions of A$10,000 or more, each individual transaction is considered a separate and distinct designated service.
AML / KYC
Hong Kong VASP Regime to Take Effect on 1 March 2023
By Natalie Curtis | 26/06/2022
The government acknowledges that the VASP regime will be more rigorous and comprehensive than those in Singapore, UK and Japan.
AML / KYC
Corporate Registries Should Issue LEIs in Bulk: BIS Paper
By Manesh Samtani | 25/06/2022
Bulk LEI issuance by corporate registries would enhance the efficiency and reliability of data collection and reduce the per-company cost of applying for an LEI.
AML / KYC
Wolfsberg Group Calls for Greater Use of PPPs for AML/CTF
By Manesh Samtani | 24/06/2022
PPPs provide the most direct and impactful opportunity for FIs to collaborate with public sector stakeholders to identify and address financial crime risks.
AML / KYC
NSW to Strengthen State AML Laws to Target Organised Crime
By Editors | 24/06/2022
New legislation will be introduced around September to enable police to stop-and-search for and seize unexplained wealth and ban encrypted devices.
AML / KYC
US Sanctions Companies in HK, UAE for Iran-linked Dealings
By Editors | 23/06/2022
The sanctions came on the back of attempts by the US to restore the JCPOA, for which Iran is demanding some sanctions be lifted.
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