ADVERTISEMENT
AML / KYC
Malaysia Jails Eight Over Illegal Deposit-taking Scheme
By Editors | 05/08/2020
Eight individuals were sentenced to between three and nine years’ jail. Total fines issued, including against three companies, amount to $310mn.
AML / KYC
Interpol Reveals ‘Alarming Rate’ of Cyberattacks During Covid-19
By Editors | 04/08/2020
Interpol warns that a further increase in cybercrime is highly likely in the near future, citing vulnerabilities related to working from home.
AML / KYC
OFAC Sanctions Chinese Entity Over Human Rights Abuses
By Editors | 04/08/2020
The XPCC is considered by OFAC to be a paramilitary organisation with large commercial operations that that are likely to be impacted by US sanctions.
AML / KYC
MAS Issues Guidance on AML/CTF Enterprise-wide Risk Assessments
By Manesh Samtani | 04/08/2020
Financial institutions are directed to study the guidance to identify and address gaps in their EWRA frameworks and processes.
AML / KYC
EU Imposes First Sanctions Against Cyber Attackers
By Editors | 03/08/2020
Measures will be taken against six individuals and three entities, including travel bans, asset freezes, and a prohibition on obtaining funding from the EU.
AML / KYC
China Mulls Allowing Domestic PE Funds to Invest Overseas
By Editors | 03/08/2020
The foreign exchange regulator will this year explore reforms to allow private equity investment funds to invest overseas.
AML / KYC
Ex Coutts Banker Fined Over $700m 1MDB Transfer
By Editors | 03/08/2020
The former Coutts & Co banker approved a $700mn transfer request from Jho Low, the alleged mastermind behind the 1MDB scandal, despite repeated red flags.
AML / KYC
Pakistan Senate Passes Amendments to Anti-Terrorism, UNSC Laws
By Editors | 31/07/2020
The amendments raise the maximum penalties for violating anti-terrorism laws, and empower the government to implement UN Security Council resolutions.
AML / KYC
HKMA Issues AML Guidance to Banks As Pandemic Persists
By Manesh Samtani | 30/07/2020
The guidance sets out key practices banks have been using to manage customer due diligence, resource pressure, and emerging threats in the context of Covid-19.
AML / KYC
China Should Reduce SWIFT Use in Case of US Sanctions – Report
By Editors | 30/07/2020
China should prepare for potential US sanctions by increasing the use of CIPS for cross-border transactions, and by developing legislation similar to the EU’s blocking statute.
JOIN OUR NEWSLETTER
A daily selection of top stories from the Regulation Asia editorial team