ADVERTISEMENT
Market Infrastructure
FSB Urges Adoption of LEI in Cross-border Payments
By Editors | 10/07/2022
Using the LEI in cross-border payments could facilitate straight-through processing, reduce costs, increase transaction speeds, and facilitate KYC compliance.
ESG / Sustainability
Taiwan to Streamline Identity Checks for Cross-border Remittances
By Darien Choong | 10/07/2022
The customer identity verification process for regular and reasonable cross border remittances can be further streamlined, the FSC said.
AML / KYC
Chinese Phonemaker Vivo Accused of Evading Tax in India
By Editors | 09/07/2022
Vivo is alleged to have made remittances via Hong Kong to China to disclose losses in India and avoid domestic tax payments.
AML / KYC
No Specific Customer Type is Automatically Higher Risk: US Agencies
By Manesh Samtani | 09/07/2022
Banks should use a risk-based approach when managing customer risk, and not decline to provide banking services to entire categories of customers.
AML / KYC
GLEIF Launches vLEI Issuer Qualification Programme
By Manesh Samtani | 07/07/2022
The vLEI is a digital version of the LEI which can be securely verified online against the source information held in GLEIF’s data repository.
Crypto / Digital Assets
Crypto Industry Seeks Public Sector Support on Sanctions Issues
By Manesh Samtani | 06/07/2022
More than 15 million crypto addresses have been linked to criminal activity with a nexus in Russia, a new GDF report says.
AML / KYC
Puerto Rico Forces Closure of Bank Involved in Global Tax Probe
By Manesh Samtani | 06/07/2022
Peter Schiff’s Euro Pacific Bank was forced to close over capital shortfall and regulatory violations. The bank has been at the centre of a global tax evasion probe.
AML / KYC
EU Council Agrees Position on Bloc-Wide AML Authority
By Editors | 06/07/2022
The AMLA will directly supervise certain types of credit and financial institutions, including crypto asset service providers, starting in 2026.
AML / KYC
UK Sanctions More Russians, Restricts More Belarusian Trade
By Editors | 06/07/2022
Last week, the UK Parliament’s Foreign Affairs Committee published a report calling on the government to “act now” to tackle the flow of illicit finance through London.
Enforcement
Korea FSS Expands Banking Industry Probe into FX Trading
By Editors | 06/07/2022
The probe was prompted by abnormal trading activity at Woori and Shinhan Bank. Other banks have been asked to conduct internal inspections.
JOIN OUR NEWSLETTER
An exclusive weekly selection of top stories from the Regulation Asia editorial team.