AML / KYC

    AML / KYC

    AUSTRAC Releases Risk Assessment of Junket Tour Operators

    By Sanday Chongo Kabange | 15/12/2020

    AUSTRAC expects casinos to use the risk assessment to protect their businesses and communities from criminal threats such as money laundering.

    AML / KYC

    No Banks Subject to HKAA Secondary Sanctions: US Treasury

    By Manesh Samtani | 13/12/2020

    In a report to Congress, the Treasury said it has not identified any foreign FIs that “knowingly” conducted significant transactions with the ten individuals sanctioned in October.

    AML / KYC

    Australia: AML Bill Passes Senate, DNFBP Amendment Rejected

    By Manesh Samtani | 13/12/2020

    An AML bill introduced last October has passed the Senate but without last month’s amendment to include real estate agents, accountants, lawyers.

    Big Picture

    APAC Overtook US in AML Penalties For 2020: Fenergo

    By Editors | 10/12/2020

    APAC has overtaken the US in terms of the value of enforcement actions for the first time since 2015, largely due to the Goldman and Westpac cases.

    AML / KYC

    Global LEI Foundation to Develop ‘Cryptographically Verifiable LEIs’

    By Editors | 10/12/2020

    The ‘vLEI’ will create a cryptographically secure chain of trust that replaces manual processes required to access and confirm an entity’s LEI data.

    AML / KYC

    AUSTRAC Targets Disability Insurance Fraud in New Guidance

    By Editors | 09/12/2020

    A new financial crime guide details the indicators that can help financial services firms identify when NDIS fraud may be taking place.

    AML / KYC

    FATF Releases New Report on Trade-based Money Laundering

    By Editors | 09/12/2020

    A key finding of the report is that greater awareness about all aspects of the trade process would likely increase opportunities to detect and disrupt TBML.

    AML / KYC

    Combatting TBML Through Collaboration and Technology

    By Henry Roxas | 09/12/2020

    R3’s Henry Roxas describes the complexities of trade-based money laundering in Asia and the importance of collaboration to tackle the problem once and for all.

    AML / KYC

    AUSTRAC Publishes AML/CTF Guidance for Remittance Providers

    By Editors | 09/12/2020

    AUSTRAC provides guidance on conducting an ML/TF risk assessment, providing risk awareness training to staff, and fulfilling reporting obligations, among others.

    AML / KYC

    ANZ, Deutsche, Citigroup Face Trial Over Criminal Cartel Case

    By Editors | 09/12/2020

    The banks are alleged to have colluded on how to offload ANZ shares in 2015 by restricting supply to maintain market prices.

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