AML / KYC

    AML / KYC

    Australian Police Make Arrest as Part of Foreign Bribery Probe

    By Editors | 12/01/2021

    The arrest is part of an investigation by UK, US and Australian authorities into the payment of bribes to officials in Iraq and other countries to secure oil contracts.

    AML / KYC

    Ex-China Development Bank Chairman Sentenced to Life in Prison

    By Editors | 11/01/2021

    The former chairman of China’s largest policy bank took 85.5mn yuan in bribes to facilitate financing for others including CEFC China Energy and HNA Group.

    AML / KYC

    Singapore Money Remittance Sector Poses High TF Risk: MAS

    By Manesh Samtani | 11/01/2021

    Singapore’s money remittance sector poses the highest risk of being exploited for terrorism financing, followed by the banking sector.

    AML / KYC

    Deutsche Bank to Pay $130m to Resolve FCPA Violations, Fraud Charges

    By Editors | 11/01/2021

    The bank’s employees and agents concealed bribes paid to obtain and maintain lucrative business in Saudi Arabia, Abu Dhabi, Italy and China.

    AML / KYC

    China Issues New Rules to Protect from Foreign Sanctions

    By Manesh Samtani | 11/01/2021

    Global businesses that comply with sanctions deemed illegal by MOFCOM can be sued for compensation in Chinese courts.

    AML / KYC

    HK Customs Flags Money Laundering Risk from Money Changers

    By Editors | 08/01/2021

    Amid the pandemic, some criminal actors have turned to licensed money changers, who were more easily lured into criminal activities as their businesses suffer.

    AML / KYC

    White House Bans US Transactions With Chinese Payment Apps

    By Editors | 06/01/2021

    White House allies including Treasury Secretary Steve Mnuchin also reportedly pressured the NYSE to again reverse its decision on delisting Chinese telecom stocks.

    AML / KYC

    RBI Mandates LEI Use for Large Payments via RTGS, NEFT

    By Manesh Samtani | 06/01/2021

    From 1 April 2021, all non-individual bank customers initiating or receiving transactions over 500m rupees via the RTGS or NEFT systems will need an LEI.

    AML / KYC

    China: Ex-Huarong Chairman Sentenced to Death for Corruption

    By Editors | 06/01/2021

    Convicted on bribery, embezzlement and bigamy charges, Lai Xiaomin will also be deprived of all political rights for life and have all of his personal property confiscated.

    AML / KYC

    OFAC Extends Chinese Military Company Ban to Subsidiaries

    By Editors | 03/01/2021

    In a set of FAQs, OFAC has clarified that Executive Order 13959 also applies to subsidiaries, derivatives, ETFs, index funds and mutual funds.

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