AML / KYC

    AML / KYC

    China to Regulate Blockchain-based Information Services

    By Manesh Samtani | 24/10/2018

    China’s internet censorship agency has drafted rules requiring blockchain information service providers to collect, store and potentially share user data with authorities.

    AML / KYC

    Urgent Action Needed to Prevent Misuse of Virtual Assets – FATF

    By Manesh Samtani | 23/10/2018

    There is an urgent need for all jurisdictions to take coordinated action to prevent the use of virtual assets for crime and terrorism, the FATF said.

    AML / KYC

    Revised HKMA Guidelines on AML/CFT to Take Effect from November

    By Editors | 22/10/2018

    The Guidelines are set to take effect from 1 November for authorised institutions and stored value facilities. The HKMA has also published its policy and supervisory approach.

    Market Infrastructure

    MAS Shelves ‘KYC Utility’ Project as Costs Surpass Expectations

    By Editors | 15/10/2018

    The setup cost of the KYC utility exceeds the savings banks would be able to achieve, MAS managing director Ravi Menon told Bloomberg.

    AML / KYC

    SFC AML/CFT Guideline Revisions to Take Effect in November

    By Editors | 15/10/2018

    A July consultation proposed amendments to improve the Guideline’s usefulness and relevance and ensure its alignment with international AML/CFT standards.

    AML / KYC

    Europe’s AMLD5 and its Impact on AML Regulations in Asia

    By Claus Christensen | 15/10/2018

    While AMLD5 confirms the EU’s leadership role in AML legislation, similar efforts have been seen in Asia, says Claus Christensen at Know Your Customer Ltd.

    AML / KYC

    China Issues AML/CTF Rules for Online Financial Institutions

    By Editors | 12/10/2018

    Online FIs required to verify client identities, monitor terrorist organisations and activities, properly store client information and transaction records, and report large-value and suspicious transactions.

    AML / KYC

    Taiwan FSC to Probe Recent Fee Hikes at Banks

    By Editors | 12/10/2018

    Seven state-banks have raised fees for foreign remittances, saying the extra charges are needed to offset costs associated with upgrades to money laundering controls.

    AML / KYC

    Technology, Multi-Agency Cooperation in Focus at HKMA

    By Manesh Samtani | 11/10/2018

    At the Refinitiv Pan Asian Regulatory Summit, HKMA’s Carmen Chu discussed how technology and cooperation with authorities contributes to a safe and clean financial centre.

    AML / KYC

    MAS to Help Crypto Firms Access Banking Services – Report

    By Manesh Samtani | 11/10/2018

    Ravi Menon told Bloomberg that MAS is trying to bring banks and crypto startups together to see if an understanding can be reached.

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