AML / KYC

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    AML / KYC

    OFAC Probes UBS for Russia Risk from Credit Suisse Takeover

    By Editors | 13/11/2024

    OFAC is reportedly seeking information from UBS about the Russian clients the bank took on when it bought Credit Suisse in March 2023.

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    AML / KYC

    Spanish Police Chief Arrested Over Links to Criminal Gangs

    By Nithya Subramanian | 13/11/2024

    Óscar Sánchez Gil was until recently the head of the fraud and AML division of Spain’s national police force in Madrid.

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    AML / KYC

    Australia’s AGD Issues Supplementary Submission on AML Amendment Bill

    By Thisanka Siripala | 13/11/2024

    The AGD responds to issues raised in submissions to the Senate Legal and Constitutional Affairs Legislation Committee on certain aspects of the Bill.

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    AML / KYC

    China Approves Passage of Revised Anti-Money Laundering Law

    By Manesh Samtani | 13/11/2024

    The revised law takes effect on 1 January 2025, strengthening FIs’ AML obligations, increasing penalties for breaches, and enabling China to introduce its own high-risk country list.

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    AML / KYC

    Vietnam: SBV to Establish New Anti-Money Laundering Department

    By Editors | 12/11/2024

    The new department is part of amendments to the functions, missions, authority and organisational structure of the State Bank of Vietnam.

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    AML / KYC

    Asian FinTech Associations Sign MoU on Anti-fraud Collaboration

    By Editors | 12/11/2024

    14 Asian FinTech associations signed an MoU last week at an event hosted in Taiwan to enhance collaborations in anti-fraud.

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    AML / KYC

    Singapore Introduces Bill to Give Police Additional Anti-Scam Powers

    By Nithya Subramanian | 12/11/2024

    The bill will allow the police to impose restrictions on individuals’ bank accounts and credit access if necessary to protect them from scams.

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    AML / KYC

    Korea Introducing New Disclosure Rules to Prevent Embezzlement

    By Editors | 12/11/2024

    Listed companies and large unlisted companies will have to make annual disclosures on the control measures they use to prevent and detect misappropriation of funds.

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    AML / KYC

    AUSTRAC Launches New System for Enrolment, Registration and Reporting

    By Sanday Chongo Kabange | 12/11/2024

    AUSTRAC says the new online portal makes it easier and faster to enrol or register a new business and to meet AML/CTF obligations.

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    AML / KYC

    UK Issues Guidance on ‘Failure to Prevent Fraud’ Offence

    By Thisanka Siripala | 11/11/2024

    The guidance aims to help organisations implement a fraud prevention framework ahead of the ‘failure to prevent fraud’ offence coming into force on 1 September 2025.

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