AML / KYC

    AML / KYC

    Russia Lays Out Three Exit Options for Foreign Firms

    By Manesh Samtani | 07/03/2022

    One option is for foreign shareholders to transfer their shares to be managed by Russian partners until they return to the market at a later date.

    AML / KYC

    Singapore Sanctions Four Russian Banks, Imposes Other Restrictions

    By Manesh Samtani | 06/03/2022

    FIs that have relationships with the four banks must freeze their assets. DPT service providers are prohibited from facilitating sanctions evasion with crypto and NFTs.

    AML / KYC

    FATF Plenary Finalises New Beneficial Ownership Requirements

    By Manesh Samtani | 06/03/2022

    Plenary adopts amendments to Recommendation 24, approves revised methodology for mutual evaluations, publishes draft guidance for real estate sector.

    AML / KYC

    FATF Concerned About Impact of Ukraine Invasion on Risk Environment

    By Editors | 06/03/2022

    Russia’s actions run counter to the FATF core principles. The FATF is reviewing Russia’s role at the FATF and will consider steps to uphold its core values.

    AML / KYC

    KoFIU Directs Crypto Exchanges to Improve AML Staffing

    By Sanday Chongo Kabange | 05/03/2022

    The proportion of staff dedicated to AML compliance at Korea’s crypto exchanges stands at around 8 percent.

    AML / KYC

    UK, UAE Launch New Toolkit Targeting Illegal Wildlife Trade

    By Editors | 04/03/2022

    Financial institutions worldwide are urged to adopt the toolkit; share it with colleagues, peers and industry partners; and take action to stamp out IWT.

    AML / KYC

    DOJ Launches New Task Force Targeting Russian Oligarchs

    By Editors | 04/03/2022

    Task Force KleptoCapture will use “the most cutting-edge investigative techniques” to identify sanctions evasion and related criminal misconduct by Russian oligarchs.

    AML / KYC

    Credit Suisse Attempts to Conceal Records on Russian Clients – Report

    By Editors | 04/03/2022

    Credit Suisse reportedly asked investors to destroy documents relating to a loan securitisation backed by “jets, yachts, real estate and/or financial assets”.

    AML / KYC

    1MDB: Ex-BNM Governor’s Husband Embroiled in Police Probe

    By Sanday Chongo Kabange | 04/03/2022

    The police, rather than the anti-corruption commission, are investigating Datuk Tawfiq Ayman and his alleged involvement in 1MDB.

    AML / KYC

    GCFFC Offers Recommendations on Improving FATF Mutual Evaluations

    By Manesh Samtani | 03/03/2022

    Mutual evaluations also do not adequately take into account threat, materiality, and contextual factors. The FATF should promote the use of PPPs and data sharing.

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