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Crypto / Digital Assets
Crypto Industry Seeks Public Sector Support on Sanctions Issues
By Manesh Samtani | 06/07/2022
More than 15 million crypto addresses have been linked to criminal activity with a nexus in Russia, a new GDF report says.
AML / KYC
Puerto Rico Forces Closure of Bank Involved in Global Tax Probe
By Manesh Samtani | 06/07/2022
Peter Schiff’s Euro Pacific Bank was forced to close over capital shortfall and regulatory violations. The bank has been at the centre of a global tax evasion probe.
AML / KYC
EU Council Agrees Position on Bloc-Wide AML Authority
By Editors | 06/07/2022
The AMLA will directly supervise certain types of credit and financial institutions, including crypto asset service providers, starting in 2026.
AML / KYC
UK Sanctions More Russians, Restricts More Belarusian Trade
By Editors | 06/07/2022
Last week, the UK Parliament’s Foreign Affairs Committee published a report calling on the government to “act now” to tackle the flow of illicit finance through London.
Enforcement
Korea FSS Expands Banking Industry Probe into FX Trading
By Editors | 06/07/2022
The probe was prompted by abnormal trading activity at Woori and Shinhan Bank. Other banks have been asked to conduct internal inspections.
AML / KYC
New Zealand DIA Publishes Guidance on AML/CFT Approach & Strategy
By Sanday Chongo Kabange | 06/07/2022
The first publication covers the DIA’s approach to regulating AML/CFT. The second outlines how the DIA uses its compliance and enforcement toolkit.
Fintech / Regtech
AUSTRAC Issues Update on Reporting System Enhancements
By Editors | 05/07/2022
AUSTRAC has commenced development of a new CRM platform which will enable it develop enhanced self-service capabilities in AUSTRAC Online.
AML / KYC
BSP Reiterates Calls for FIs to Enhance Anti-Fraud Measures
By Editors | 05/07/2022
The BSP has vowed to intensify monitoring and surveillance of the financial industry to ensure they “remain responsive to emerging risks”.
AML / KYC
US Bill Set to Bring Gatekeepers into Scope of AML Rules
By Editors | 05/07/2022
The Enablers Act would require financial advisers, lawyers, art and antiquities traders to perform due diligence on their clients and file SARs.
AML / KYC
Bangladesh Grants Amnesty for Repatriation of Offshore Assets
By Editors | 04/07/2022
The government will provide amnesty for those that choose to repatriate their offshore assets to Bangladesh and pay a 7% tax.
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