AML / KYC

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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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    AML / KYC

    HKMA Fines Fubon Bank for Transaction Monitoring Lapses

    By Sanday Chongo Kabange | 11/11/2024

    HKMA said Fubon had deficiencies in the controls for transmission of transaction data from the core banking system to its transaction monitoring system.

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    Press Release

    Feedzai Wins Best Use of AI for Fraud and Financial Crime Prevention

    By Editors | 11/11/2024

    Feedzai’s RiskOps was awarded Best Use of AI for Fraud and Financial Crime Prevention by a technology vendor at the 7th Regulation Asia Awards for Excellence 2024.

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    AML / KYC

    AUSTRAC Raises Concerns Over Outsourced AML Programmes

    By Thisanka Siripala | 09/11/2024

    AUSTRAC is making “significant internal changes” as part of its commitment to supporting the industry through coming AML/CFT reforms.

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    AML / KYC

    FATF Publishes Guidance on Conducting National Risk Assessments

    By Editors | 08/11/2024

    The guidance identifies prerequisites for a successful NRA and offers a structured approach for analysing money laundering threats, vulnerabilities, and risks.

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    Enforcement

    PBOC Fines Two Leading Securities Firms for AML Violations

    By Editors | 07/11/2024

    The two firms were penalised for failures to properly identify customers and submit suspicious transaction reports, and for conducting transactions with unidentified customers.

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