AML / KYC

    AML / KYC

    AUSTRAC Proposes Amendments to AML/CTF Rules

    By Sanday Chongo Kabange | 16/03/2022

    A new consultation paper proposes to exempt FIs that are already enrolled with AUSTRAC from registration on the DCE Register when offering digital currency exchange services.

    AML / KYC

    Tencent Faces Record Penalty Over AML Breaches – Report

    By Sanday Chongo Kabange | 16/03/2022

    The breaches involved failures to verify the identities of users and merchants transacting on WeChat Pay, as well as the source of funds for those transactions.

    Fintech / Regtech

    Dubai Establishes New Law, Regulator for Crypto Assets

    By Mark Johnston | 16/03/2022

    The new law comes as crypto firms in the UAE receive streams of requests from sanctioned Russians to liquidate billions of dollars of crypto assets.

    AML / KYC

    INTERPOL Launches Financial Crime and Anti-Corruption Centre

    By Editors | 16/03/2022

    The new centre will adopt a multi-agency approach to drive a coordinated global response to transnational financial crime and corruption.

    AML / KYC

    G7 to Downgrade Russia Trade Status, Close Sanctions Loopholes

    By Editors | 13/03/2022

    US bans more Russian trade. G7 pledges to close national-level loopholes that could enable sanctions evasion via crypto-assets, among other commitments.

    Fintech / Regtech

    Japan Crypto Industry Set to Adopt Travel Rule

    By Editors | 13/03/2022

    The travel rule will increase transparency on the individuals and entities crypto exchanges deal with, as the government seeks to prevent sanctions evasion.

    AML / KYC

    BIS Suspends Russian Central Bank as UK Adds More Sanctions

    By Manesh Samtani | 11/03/2022

    UK adds seven names to its sanctions list. Goldman and JPMorgan to close Russian operations. Russia to nationalise assets of foreign companies.

    AML / KYC

    Singapore Court Imposes 9 Year Jail Sentence for IRAS Fraud

    By Editors | 10/03/2022

    230 companies, mostly dormant and shell companies, were used to submit 400 fraudulent applications claiming tax breaks.

    AML / KYC

    Philippine AMLC Extends Deadline for DNFBP AML Programmes

    By Editors | 10/03/2022

    The deadline for DNFBPs to formulate a money laundering and terrorism financing prevention programme has been extended to June.

    AML / KYC

    US President Calls for Comprehensive Approach to Digital Assets

    By Editors | 10/03/2022

    The US Treasury and other agencies are directed to submit a series of reports within six months recommending a policy approach for digital assets.

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