AML / KYC

    AML / KYC

    RBNZ Establishes Standalone Enforcement Department

    By Ranamita Chakraborty | 13/04/2021

    The new department will work to incentivise and manage prudent behaviour as well as hold institutions to account for non-compliance.

    AML / KYC

    Singapore Court Charges Five Over Shell Company Activity

    By Ranamita Chakraborty | 12/04/2021

    Between 2016 and 2019, eight police reports were filed by victims who were deceived into wiring around $1.7mn into the bank accounts of Singapore-registered shell companies.

    AML / KYC

    SEC Thailand Allows Crypto Exchange Bitkub to Resume Services

    By Editors | 12/04/2021

    Bitkub has been allowed to resume accepting new clients. A warning was issued against Binance. Huobi was ordered to suspend services.

    AML / KYC

    FATF President Calls for Rethink of Regulatory Culture

    By Manesh Samtani | 09/04/2021

    Dr Marcus Pleyer says supervisors and compliance officers in banks and companies mostly still take a basic tick-box approach.

    AML / KYC

    Sydney Court Jails Man for Cryptocurrency Money Laundering

    By Sanday Chongo Kabange | 08/04/2021

    The man used other people’s identities to set up accounts with a cryptocurrency provider, which he used to withdraw stolen bitcoin.

    AML / KYC

    Philippines Expands AML Rules to Financing, Lending Firms

    By Ranamita Chakraborty | 08/04/2021

    All financing and lending companies are required to register with the AMLC, report suspicious transactions and comply with other AML/CTF rules.

    AML / KYC

    FinCEN Consults on Beneficial Ownership Reporting Requirement

    By Editors | 08/04/2021

    FinCEN is asking for written comments on the implementation of the beneficial ownership information reporting of the Corporate Transparency Act.

    AML / KYC

    Japan Crypto Industry to Adopt Travel Rule by April 2022

    By Sanday Chongo Kabange | 07/04/2021

    The FSA has written to the JVCEA advising it to start preparing for the implementation of the travel rule in Japan’s crypto industry.

    AML / KYC

    Australia Lags Regional Peers on DNFBP Regulation: Report

    By Manesh Samtani | 03/04/2021

    Australia is sending a message to financial criminals around the world that its lawyers, accountants and property market are open for business.

    AML / KYC

    Hong Kong to Allow Companies to Conceal Director Identities

    By Manesh Samtani | 03/04/2021

    The proposal will hamper the ability of investors, banks, property agents, researchers and journalists to carry out due diligence on transactions and counterparties.

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