AML / KYC

    AML / KYC

    US Judge Subpoenas Chinese Banks in Sanctions Probe – Report

    By Editors | 07/05/2019

    A US federal judge has ordered three Chinese banks to provide documents in relation to a Hong Kong company which allegedly helped North Korea evade international sanctions.

    AML / KYC

    Japan to Halt Overseas Transfers that Bypass Bank Accounts

    By Editors | 06/05/2019

    In preparation for this year’s FATF review, Japanese banks will reportedly terminate counter services for overseas remittances that bypass bank accounts.

    Securities / Derivatives

    MAS Consults on Proposed Framework for Variable Capital Companies

    By Editors | 02/05/2019

    The proposals include an AML/CFT framework for VCCs requiring them to engage an eligible financial institution to perform the necessary checks.

    AML / KYC

    Wolfsberg Group Endorses APAC Toolkit for Tackling Human Trafficking

    By Editors | 26/04/2019

    The Wolfsberg Group has endorsed the latest Anti Human Trafficking Toolkit from the Thomson Reuters Foundation, tailored for use in Asia Pacific by banks and financial institutions.

    AML / KYC

    Japan FSA Raids Two Crypto Exchanges to Check Compliance

    By Editors | 25/04/2019

    The FSA reportedly wants to ensure appropriate measures have been implemented for customer protection and legal compliance after recent management changes.

    AML / KYC

    SFC Imposes 10-Month Ban on Former Guosen Exec

    By Editors | 24/04/2019

    The 10-month ban on Su Xiqiang, former head of Guosen’s retail brokerage, was a result of improper handling of third-party fund deposits, and a lack of AML controls.

    AML / KYC

    Delayering AML – Ideal Test Field for Innovative Technologies

    By Prasanna Venkatesan | 22/04/2019

    AML/CFT is an ideal test field for new technologies given the risk factors and complex challenges Asian banks face, says Synpulse’s Prasanna Venkatesan.

    AML / KYC

    FATF Releases Mutual Evaluation Report on China

    By Editors | 19/04/2019

    Some of the gaps identified relate to an insufficient focus on non-financial businesses and professions, difficulties identifying beneficial ownership, and an inadequate sanctions framework.

    AML / KYC

    Singapore Charges its First National for Terrorism Financing

    By Editors | 17/04/2019

    Singapore’s Ministry of Home Affairs has confirmed that a Singaporean man has been charged for allegedly financing the publication of ISIS propaganda.

    AML / KYC

    FATF to Adopt ‘Open-ended’ Mandate Starting in 2020

    By Editors | 17/04/2019

    The new open-ended mandate recognises FATF’s leadership role and strengthens its capacity to respond to threats facing the financial system.

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