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Crypto / Digital Assets
Taiwan Central Bank Warns Against Investing in NFT Market
By Darien Choong | 22/06/2022
NFTs are not suitable for retail investors, due to a lack of regulation, liquidity, and clarity over ownership, the central bank says.
AML / KYC
Myanmar Considers Joining SPFS, Russia’s SWIFT Alternative
By Editors | 21/06/2022
Myanmar is negotiating the possibility of joining SPFS, an alternative to SWIFT, as well as the use of Russian Mir cards in Asia.
AML / KYC
HK Customs Arrests Woman for Suspected Laundering of HK$350m
By Editors | 21/06/2022
The woman used 23 personal bank accounts to launder the money over three years, mostly for shell companies set up by individuals from mainland China.
AML / KYC
Hong Kong: Victims Lost HK$1.28bn from Fraud from Jan-April
By Editors | 21/06/2022
Email fraud accounted for HKD 333 million of losses to companies and individuals in the first four months of this year.
Crypto / Digital Assets
UK Crypto Firms Required to Comply with Travel Rule by Sep 2023
By Manesh Samtani | 20/06/2022
The UK scrapped a proposal to require both fiat currency and cryptoasset transfers to be considered when calculating the de minimis threshold, which has been set at EUR 1,000.
AML / KYC
CBIRC Warns of Online Fraudsters Impersonating Regulators
By Editors | 19/06/2022
This is the fourth fraud risk warning issued by the CBIRC this year. Consumers are asked to remain vigilant and report fraud attempts.
AML / KYC
FATF Concludes Final Plenary Under German Presidency
By Editors | 19/06/2022
FATF will soon publish an update on travel rule implementation in the crypto industry, a report on collaborative analytics, and new guidance for the real estate sector.
AML / KYC
EBA Finalises Guidance for AML/CFT Compliance Officers
By Editors | 19/06/2022
The guidelines comprehensively address, for the first time at the EU level, the whole AML/CFT governance set-up at financial institutions.
AML / KYC
SFC Fines China Everbright Securities for AML/CFT Violations
By Editors | 16/06/2022
Unrelated clients received deposits from the same third party within four days, and then used the funds to trade in the same stock.
AML / KYC
Singapore Trade Finance Registry to Go Live in Q4
By Editors | 16/06/2022
The Association of Banks in Singapore has selected MonetaGo and GUUD to deliver a registry that will prevent duplicate financing and fraud.
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