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AML / KYC
Vietnam Launches Nationwide Campaign Against Online Fraud
By Editors | 01/01/2025
Measures include developing an interagency coordination model and enhancing account verification, Internet banking security, and controls on crypto-related transactions.
AML / KYC
PNG Agencies Launch New Anti-Money Laundering Task Force
By Editors | 31/12/2024
The task force is described as a “crucial step” in PNG’s efforts to combat financial crime and avoid being placed on the FATF’s grey list.
AML / KYC
HKMA Directs Banks to Implement More Anti-Scam Measures
By Manesh Samtani | 28/12/2024
HKMA says banks should seek Police assistance and consider holding the transaction if they believe a customer is being scammed.
AML / KYC
OCC Issues Order Requiring BofA to Fix AML Deficiencies
By Editors | 28/12/2024
The order requires BofA to obtain OCC approval to launch new products or services that present high money laundering or sanctions risk.
Enforcement
1MDB Files Suit Against Corporate Service Provider Amicorp
By Editors | 28/12/2024
1MDB alleges HK-headquartered Amicorp used shell companies and fraudulent financial structures to facilitate the misappropriation of assets.
AML / KYC
AUSTRAC Publishes Unofficial “Future” Version of AML Act
By Editors | 28/12/2024
The document does not have legal effect but aims to help reporting entities understand the effect of the amendments passed in November.
AML / KYC
FATF Publishes Six Mutual Evaluation, Four Follow-up Reports
By Editors | 28/12/2024
New reports available for Marshall Islands, Nauru, Timor Leste, PNG, Oman, Argentina, Georgia, Monaco, Croatia, Poland
AML / KYC
Japan FSA Orders AEON Bank to Improve AML/CFT Systems
By Manesh Samtani | 27/12/2024
The FSA said AEON Bank neglected at least 14,639 transactions detected by its surveillance system and takes too long to report suspicious transactions
AML / KYC
UN General Assembly Adopts New Cybercrime Convention
By Manesh Samtani | 26/12/2024
The Convention will help to address online child sexual abuse, sophisticated online scams and money laundering
AML / KYC
Court Reinstates FinCEN’s Beneficial Ownership Reporting Rule
By Manesh Samtani | 25/12/2024
The Court lifted an injunction that reinstates a 1 January 2025 reporting deadline. FinCEN has extended the deadline to 13 January 2025.
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