AML / KYC

    AML / KYC

    Fed Orders Citigroup to Correct “Longstanding Deficiencies”

    By Editors | 08/10/2020

    The Fed has ordered Citigroup to remediated enterprise-wide risk management and controls deficiencies. The OCC has penalised Citibank $400mn for the same deficiencies.

    AML / KYC

    RegTech Asia 2020: Enhancing Transaction Monitoring

    By Editors | 07/10/2020

    How is the financial industry using AI/machine learning and data analytics to enhance typically rule-based transaction monitoring systems?

    AML / KYC

    RegTech Asia 2020: Digital Identity, Benefits & Challenges

    By Editors | 05/10/2020

    How can digital identity enable real-time risk management, what are its other use cases, and what are the challenges to adoption?

    Fintech / Regtech

    RegTech Asia 2020: Digital KYC, Onboarding & Authentication

    By Editors | 04/10/2020

    Digital transformation has accelerated in financial services amid the pandemic. But it has not come without risks.

    AML / KYC

    Ransomware Payments May Breach OFAC Regulations

    By Sanday Chongo Kabange | 03/10/2020

    OFAC makes clear in a new advisory that it may impose civil penalties if ransomware payments are made to sanctioned individuals or entities.

    AML / KYC

    BitMEX Founders Charged for Evading AML Requirements

    By Editors | 03/10/2020

    Four individuals were charged for “willfully” failing to establish, implement, and maintain an adequate AML programme that included a KYC component.

    AML / KYC

    Australia to Allocate A$800m to Digital Initiatives in Budget

    By Editors | 02/10/2020

    The plan includes the development of a digital identity system, modernisation of business registers, rollout support for the CDR, and regtech/fintech initiatives.

    AML / KYC

    FATF Upgrades China on Three Recommendations in Follow-up

    By Manesh Samtani | 01/10/2020

    This is to reflect progress on regulating online lending, guidance issued to online lending and other DNFBP sectors, and China’s prohibition on virtual asset activities.

    AML / KYC

    Taiwan to Set New AML/CFT Rules for Accountants

    By Editors | 01/10/2020

    Accountants will not be allowed to establish business relationships or conduct transactions with clients until their identities and actual beneficiaries are verified.

    AML / KYC

    BSP Set to Issue Revised Rules on Virtual Assets

    By Sanday Chongo Kabange | 30/09/2020

    The revisions are aimed at addressing identified gaps and aligning the framework with FATF guidance for regulating VASPs.

    JOIN OUR NEWSLETTER

    A daily selection of top stories from the Regulation Asia editorial team