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AML / KYC
FATF Releases New Report on Trade-based Money Laundering
By Editors | 09/12/2020
A key finding of the report is that greater awareness about all aspects of the trade process would likely increase opportunities to detect and disrupt TBML.
AML / KYC
Combatting TBML Through Collaboration and Technology
By Henry Roxas | 09/12/2020
R3’s Henry Roxas describes the complexities of trade-based money laundering in Asia and the importance of collaboration to tackle the problem once and for all.
AML / KYC
AUSTRAC Publishes AML/CTF Guidance for Remittance Providers
By Editors | 09/12/2020
AUSTRAC provides guidance on conducting an ML/TF risk assessment, providing risk awareness training to staff, and fulfilling reporting obligations, among others.
AML / KYC
ANZ, Deutsche, Citigroup Face Trial Over Criminal Cartel Case
By Editors | 09/12/2020
The banks are alleged to have colluded on how to offload ANZ shares in 2015 by restricting supply to maintain market prices.
AML / KYC
Philippine SEC Proposes Stronger Rules on Beneficial Ownership
By Editors | 08/12/2020
The SEC is seeking to require the disclosure of beneficial owners, nominators, principals, and nominee arrangements within 10 days from a company’s registration.
AML / KYC
US Sanctions Another 14 Chinese Officials Over Hong Kong
By Editors | 08/12/2020
A Chinese foreign ministry spokesperson said Beijing would take “firm counter-measures against the malicious actions by the US”.
AML / KYC
US Congress Includes Corporate Transparency in Defence Bill
By Editors | 08/12/2020
The legislation will establish reporting requirements on beneficial ownership information, which could effectively end anonymous shell companies in the US.
AML / KYC
Global Coalition to Fight Financial Crime Expands Membership
By Sanday Chongo Kabange | 08/12/2020
Interpol and Western Union are among the five new additions to the GCFFC’s membership, bringing the total count to 18 organisations.
AML / KYC
The Best Weapon to Shut Down the Illegal Wildlife Trade
By Steve Galster | 07/12/2020
Freeland’s Steve Galster discusses new initiatives to stop illegal wildlife traffickers by hitting them where it hurts the most – in their bank accounts – and how financial institutions can help.
AML / KYC
US Designates Four More Companies as Linked to Chinese Military
By Manesh Samtani | 06/12/2020
US investors will be prohibited from buying securities issued by the four companies, which include CNOOC and SMIC, from 1 February 2021.
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