AML / KYC

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    Crypto / Digital Assets

    UK FCA Fines Coinbase Unit for ‘Repeated’ Regulatory Breaches

    By Editors | 26/07/2024

    The Coinbase payments subsidiary provided payment services to more than 13,000 “high-risk” customers, despite being subject to restrictions imposed by the FCA.

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    AML / KYC

    BSP Introduces Framework for Merchant Payment Activities

    By Sanday Chongo Kabange | 26/07/2024

    The framework sets out regulatory requirements for operators of payment systems that engage in merchant payment acceptance activities.

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    AML / KYC

    US, UK, South Korea Warn of DPRK Espionage Campaign

    By Editors | 26/07/2024

    Joint advisory says North Korean hacker group ‘Andariel’ is a threat to entities in the US, UK, South Korea, Japan and India.

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    Crypto / Digital Assets

    HSBC Australia Blocks Payments to Crypto Exchanges

    By Editors | 26/07/2024

    The decision was made in light of data showing that Australians lost up to A$171mn in investment scams in 2023.

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    AML / KYC

    Philippines Announces Total Ban on Offshore Gaming Operators

    By Mark Johnston | 25/07/2024

    The ban announced by the President will impact more than 400 POGOs, most of which are unlicensed and operate underground.

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    AML / KYC

    RBI Revises Framework for Domestic Money Transfer Services

    By Ajoy K Das | 25/07/2024

    The revisions tighten KYC record keeping, AFA validation and transaction message requirements for domestic money transfers.

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    Fintech / Regtech

    RBI Flags Concerns Over Digital Fraud, Outsourcing Risks

    By Ajoy K Das | 24/07/2024

    RBI governor Shaktikanta Das called on banks to strengthen customer onboarding and transaction monitoring to address digital fraud.

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    AML / KYC

    US Authorities Recover Another $85m in 1MDB Case

    By Nithya Subramanian | 24/07/2024

    The DOJ secured the recovery of a Swiss financial account along with diamond jewellery and artwork worth a combined $85mn.

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    AML / KYC

    US House Passes Bill to Combat Crypto-enabled Illicit Finance

    By Nithya Subramanian | 23/07/2024

    Under the bill, an independent financial technology working group will be established to examine illicit finance in the digital asset ecosystem.

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    AML / KYC

    Philippines Enacts Anti-Financial Account Scamming Act

    By Editors | 22/07/2024

    The law institutionalises penalties for social engineering-related crimes and online scams, including the use of mule accounts.

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