AML / KYC

    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.

    AML / KYC

    New Zealand DIA Publishes Guidance on AML/CFT Approach & Strategy

    By Sanday Chongo Kabange | 06/07/2022

    The first publication covers the DIA’s approach to regulating AML/CFT. The second outlines how the DIA uses its compliance and enforcement toolkit.

    Fintech / Regtech

    AUSTRAC Issues Update on Reporting System Enhancements

    By Editors | 05/07/2022

    AUSTRAC has commenced development of a new CRM platform which will enable it develop enhanced self-service capabilities in AUSTRAC Online.

    AML / KYC

    BSP Reiterates Calls for FIs to Enhance Anti-Fraud Measures 

    By Editors | 05/07/2022

    The BSP has vowed to intensify monitoring and surveillance of the financial industry to ensure they “remain responsive to emerging risks”.

    AML / KYC

    US Bill Set to Bring Gatekeepers into Scope of AML Rules

    By Editors | 05/07/2022

    The Enablers Act would require financial advisers, lawyers, art and antiquities traders to perform due diligence on their clients and file SARs.

    AML / KYC

    Bangladesh Grants Amnesty for Repatriation of Offshore Assets

    By Editors | 04/07/2022

    The government will provide amnesty for those that choose to repatriate their offshore assets to Bangladesh and pay a 7% tax.

    AML / KYC

    FATF Outlines Priorities, Objectives for Singapore Presidency

    By Editors | 04/07/2022

    The Singapore Presidency will focus on areas such as asset recovery, cybercrime, virtual assets, beneficial ownership, data analytics and corruption.

    AML / KYC

    Taiwan Banks Warned of Credit Card Fraud Via Digital Wallets

    By Editors | 04/07/2022

    The FSC asked the Bankers Association to amend its guidances to ensure consumers get notifications when their credit card is added to a digital wallet.

    AML / KYC

    Limited Progress Made on Travel Rule Implementation: FATF

    By Editors | 01/07/2022

    Jurisdictions have made “only limited progress” over the last year to implement the travel rule in the crypto industry, the FATF says.

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