AML / KYC

    AML / KYC

    Philippine Court Jails Seven Over Investment Scam

    By Editors | 28/07/2022

    Seven perpetrators of a PHP 3 billion investment scam were sentenced to 20 years in jail each on top of financial penalties. Four others remain at large.

    AML / KYC

    US Treasury Allows Payouts on Russia Bond CDS

    By Editors | 28/07/2022

    General licence authorises US persons to participate in auction processes and receive Russian bonds to settle CDS transactions with Russian entities.

    AML / KYC

    US SEC Issues Fines Over Identity Theft Prevention Programmes

    By Editors | 28/07/2022

    JP Morgan Securities will pay a $1.2mn penalty, UBS Financial Services will pay $925,000, and TradeStation Securities will pay $425,000.

    AML / KYC

    Taiwan Prohibits Credit Card Usage for Crypto Transactions

    By Darien Choong | 28/07/2022

    Credit card companies that process payments for transactions involving virtual assets will have three months to stop.

    AML / KYC

    FATF Issues Final AML Guidance for Real Estate Sector

    By Editors | 27/07/2022

    The guidance sets out the primary risks for the real estate sector and the measures needed to take adequately mitigate these risks.

    AML / KYC

    UK: Most Crypto Firms Simply Withdrew Their FCA Applications

    By Mark Johnston | 26/07/2022

    The FCA approved 35 crypto firms out of 273 that applied for registration with the FCA under AML regulations.

    AML / KYC

    UK Requires Crypto Firms to Report Sanctions Breaches

    By Editors | 26/07/2022

    New regulations will require crypto exchanges and wallet providers to comply with OFSI’s reporting obligations from 30 August 2022.

    AML / KYC

    FATF Offers Guidance on Private Sector Information Sharing

    By Editors | 25/07/2022

    The report features information sharing case studies from the UK, Singapore, Netherlands, the US, Estonia, and Germany.

    AML / KYC

    Russia Creates Hurdles for Foreign Banks Trying to Exit

    By Manesh Samtani | 24/07/2022

    Societe Generale is the only major bank that has exited Russia so far. HSBC has struck a deal to sell its Russian business but will need regulatory approval.

    AML / KYC

    US Recovers Crypto Ransoms Paid by Healthcare Providers

    By Editors | 23/07/2022

    The FBI seized about USD 500,000 from two crypto accounts that had received ransoms paid by US health care providers to North Korean hackers.

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