AML / KYC

    AML / KYC

    HKMA Issues “Mandate” for Innovation in AML/CFT

    By Manesh Samtani | 12/08/2021

    The HKMA will launch interactive lab sessions to experiment with new technologies and emerging data analytics techniques, with an initial focus on network analytics and NLP.

    Securities / Derivatives

    Singapore Sees Resurgence of ‘Pump and Dump’ Scams

    By Editors | 11/08/2021

    Seven victims recently bought more than 49,000 shares in a US-listed company based on the recommendation of an “expert” and lost over $1mn within two days.

    AML / KYC

    DeFi Accounts for Majority of Crypto Hacks, Frauds in 2021

    By Sanday Chongo Kabange | 11/08/2021

    In H1 2021, DeFi accounted for 76% of major crypto hack volume and 54% of major crypto fraud volume, according to CipherTrace.

    AML / KYC

    Chinese Nationals Face US Jail For Laundering Drug Money

    By Editors | 11/08/2021

    Six Chinese nationals face jail for conspiracy to launder money for El Chapo-linked drug cartels, using casinos, front companies, and false passports.

    AML / KYC

    SFC Finalises Investor ID, OTC Securities Reporting Regimes

    By Manesh Samtani | 11/08/2021

    The investor identification regime is expected to be launched in H2 2022. The securities transactions reporting regime will go live in H1 2023.

    AML / KYC

    RBNZ Issues Formal Warning to Westpac for AML Failures

    By Editors | 11/08/2021

    Westpac failed to report almost 8000 corporate transactions to overseas recipients between July 2018 and February 2019, the RBNZ said.

    AML / KYC

    North Korea Continues to Evade Sanctions – Report

    By Editors | 10/08/2021

    A draft report by a UN panel of experts says North Korea has continued to evade sanctions through open sea ship-to-ship transfers and other means.

    AML / KYC

    BSP to Finalise Members of Open Finance Body This Year

    By Sanday Chongo Kabange | 10/08/2021

    The open finance oversight committee which will formulate standards for consent-based data sharing will include representation from across the financial industry.

    AML / KYC

    China, UAE Agree to Exchange Intelligence on AML Investigations

    By Editors | 09/08/2021

    The FIUs in China and the UAE will exchange information on investigations concerning money laundering, terrorist financing, and the persons or entities involved.

    AML / KYC

    Good Intentions: The FATF Faces Its Own Unintended Consequences

    By Tom Keatinge | 08/08/2021

    The FATF’s unintended consequences study will point to necessary reforms that the watchdog will be unwilling to undertake.

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