AML / KYC

    AML / KYC

    Singapore: Revolut, Luno Get In-Principle Approval to Offer DPT Services

    By Editors | 02/05/2022

    MAS managing director Ravi Menon described the licensing process as necessarily stringent for Singapore to be a responsible global crypto hub.

    AML / KYC

    German Authorities Raid Deutsche Bank in Money Laundering Probe

    By Editors | 02/05/2022

    The raids are reportedly connected to late SARs filings involving a transaction linked to the family of Syrian leader Bashar al-Assad.

    AML / KYC

    Chinese Regulators Consider Options to Guard Against Sanctions

    By Editors | 02/05/2022

    Officials from the PBOC, MOF and CSRC reportedly met with foreign and domestic banks to discuss ways to protect China’s foreign assets from possible future US sanctions.

    AML / KYC

    MAS Issues Guidance on Uplifting Name Screening Systems

    By Manesh Samtani | 30/04/2022

    MAS observed an overreliance on system vendors to set the screening parameters. Most FIs did not enquire about or assess vendors’ information sources.

    AML / KYC

    US OCC Orders Digital Assets Bank to Address AML Failings

    By Sanday Chongo Kabange | 30/04/2022

    Deficiencies were found at Anchorage Digital Bank, the US’ first federally chartered bank authorised to provide institutional custody services for crypto.

    Enforcement

    MAS Offers Update on Major Ongoing Investigations

    By Editors | 29/04/2022

    MAS’ latest enforcement report includes a new section providing updates on cases relating to Noble Group, Hyflux, Eagle Hospitality Trust, and Hui Xun Asset Management.

    AML / KYC

    AUSTRAC Enhances MOU with Victoria Casino Regulator

    By Editors | 27/04/2022

    The Victorian Gambling and Casino Control Commission will be provided designated access to AUSTRAC’s financial intelligence database.

    AML / KYC

    ICMA Issues Guidance on Repo Trades Impacted by Sanctions

    By Manesh Samtani | 27/04/2022

    ICMA provides guidance on handling situations where counterparties may fail to deliver collateral securities due to the imposition of sanctions.

    AML / KYC

    FIs Must Continue to Innovate Approach to AML: HKMA

    By Manesh Samtani | 27/04/2022

    Executive director Carmen Chu says work is underway to update HKMA’s guidance on name screening, transaction monitoring and suspicious transaction reporting.

    AML / KYC

    China UnionPay to Halt Operations in Russia

    By Editors | 27/04/2022

    UnionPay has reportedly halted negotiations with Russian banks on issuing new bank cards for their customers to avoid possible sanctions.

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