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AML / KYC
China Proposes to Enhance Licencing System for Dual-use Goods
By Darien Choong | 26/04/2022
The draft regulations are aimed at fulfilling China’s international obligations on non-proliferation and addressing the fragmented structure of the existing rule system for export controls.
AML / KYC
AMLC Philippines Launches Review of Sanctions Screening Practices
By Editors | 26/04/2022
The AMLC has partnered with AML Analytics as its testing and validation partner to conduct a thematic review of customer- and transaction-screening systems at FIs and DNFBPs.
AML / KYC
RBI Expands LEI Requirements for Corporate Borrowers
By Manesh Samtani | 26/04/2022
The RBI has prescribed timelines for borrowers with exposure of INR 50 million to obtain an LEI, including customers of NBFCs and UCBs.
AML / KYC
Australia Sanctions More Russian Lawmakers, US Blocks Port Access
By Editors | 26/04/2022
Australia has now sanctioned nearly 750 individuals and entities in response to the war in Ukraine. Russian-affiliated vessels are prohibited from entering US ports.
AML / KYC
PwC Concludes Review of OCBC Anti Fraud Systems
By Ranamita Chakraborty | 26/04/2022
A review of OCBC’s anti-fraud systems and procedures concluded that the bank should take a more “integrated approach” to combat fraud and scams.
AML / KYC
FCA Directs Challenger Banks to Bolster FCC Controls
By Editors | 26/04/2022
The FCA said it found weaknesses relating to customer due diligence, risk assessment, management of transaction monitoring alerts, and SAR quality.
AML / KYC
Philippine Banks Directed to Monitor Gaming-related Transactions
By Editors | 25/04/2022
FIs are asked to bolster their CDD and file reports when suspicious transactions are observed involving play-to-earn games such as the recently-hacked Axie Infinity.
AML / KYC
Chinese Payments Firms Take Steps to Stop Online Fraud
By Editors | 25/04/2022
Alipay removed more than 170,000 accounts linked to illegal activity, just days after the government issued guidance on combatting internet fraud.
AML / KYC
FSS Korea Launches Probe Over Shinhan Card Frauds
By Editors | 25/04/2022
Shinhan Card is directed to enhance its card issuance and fraud prevention systems, and compensate customers for losses.
AML / KYC
European Crypto Firms Push Back Against Proposed Regulations
By Editors | 24/04/2022
Crypto firms say requiring them to disclose transaction details and wallet addresses will undermine the privacy and safety of digital asset owners.
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