AML / KYC

    AML / KYC

    HK Customs Arrests Four for Laundering Funds Using Tether

    By Sanday Chongo Kabange | 19/07/2021

    The four are part of a syndicate that charged criminal clients a commission of 3-5% to launder illicit proceeds from crime.

    AML / KYC

    BOT Warns Against Using Crypto As Means of Payment

    By Sanday Chongo Kabange | 18/07/2021

    If the use of digital assets as a means of payment for goods and services become widespread, the BOT will take action in coordination with the SEC.

    AML / KYC

    SFC Issues Warning on Unregulated Virtual Asset Platforms

    By Editors | 18/07/2021

    Soon after the SFC’s statement, Binance announced that stock tokens will no longer be available for purchase on its website.

    AML / KYC

    US Government Warns Of Rising Business Risk in Hong Kong

    By Editors | 18/07/2021

    A business advisory from four US government agencies says US firms should be aware of the risks they face if they continue operating in Hong Kong.

    AML / KYC

    NZ FMA Issues New Guidance on Electronic ID Verification

    By Editors | 18/07/2021

    A new Explanatory Note identifies electronic sources of information that reporting entities can use for identity verification.

    AML / KYC

    Bangladesh Brokerage Owners Accused of Embezzlement

    By Editors | 17/07/2021

    The BSEC has initiated an inquiry into Banco Securities, which has already had its trading suspended and bank account frozen amid embezzlement allegations.

    AML / KYC

    INTERPOL Calls for Global Action to Prevent ‘Ransomware Pandemic’

    By Editors | 16/07/2021

    Criminals made $350mn in 2020 from ransomware payments, representing an increase of 311% in one year.

    AML / KYC

    European Commission Seeks Establishment of New AML Authority

    By Ranamita Chakraborty | 15/07/2021

    The new authority would be able to directly oversee the financial firms operating across multiple member states and issue penalties for AMLviolations.

    AML / KYC

    Japan FSA, BOJ to Assess AML, Anti-fraud Measures at FIs

    By Manesh Samtani | 14/07/2021

    The FSA and BOJ are reportedly looking to better understand whether AML, anti-fraud, and cybersecurity measures at FIs are adequate.

    AML / KYC

    MAS, ABS Working to Improve Safeguards Against Scams – Reports

    By Ranamita Chakraborty | 14/07/2021

    A task force has been set up to help Singapore’s financial industry improve safeguards against scams and fraudulent transactions.

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