AML / KYC

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    AML / KYC

    India to Implement Payee Name Checking on RTGS, NEFT by April

    By Editors | 05/01/2025

    Banks have until 1 April 2025 to implement the beneficiary account name look-up facility for RTGS and NEFT transfers.

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    AML / KYC

    China Consults on Draft CFT rules for Social Organisations

    By Editors | 05/01/2025

    Under the rules, social organisations have to undertake periodic TF risk assessments and implement risk prevention measures commensurate with their TF risks.

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    AML / KYC

    Taiwan to Loosen Rules Imposed on Overseas Securities Clients

    By Editors | 04/01/2025

    The FSC will make account opening, order verification and fund deposits more convenient for overseas clients

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    AML / KYC

    Thailand Works to Address Risks of Myanmar Transactions

    By Manesh Samtani | 04/01/2025

    No evidence was found that transactions with Myanmar were linked to weapons purchases. A new sanctions policy has been issued.

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    Crypto / Digital Assets

    Philippine SEC Proposes New Regulatory Framework for Crypto

    By Manesh Samtani | 02/01/2025

    The rules cover capital requirements, consumer protection, disclosures and marketing, AML compliance, market abuse, and cybersecurity.

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    AML / KYC

    Taiwan FIs to Connect ‘Financial Fast-ID’ Verification Systems

    By Editors | 02/01/2025

    A cross-system verification hub is being developed to connect the existing digital identity verification systems of various FIs.

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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.

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    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.

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    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.

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    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.

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