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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.
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.
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.
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.
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.
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.
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.
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.
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.
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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