AML / KYC

AML / KYC

Singapore Jails Man for Laundering Chinese Funds with USDT

By Nithya Subramanian | 15/04/2025

The scheme involved using cash from China-issued bank cards to purchase gold in Singapore which was subsequently converted to USDT.

AML / KYC

Australia Tackles Illicit Funds in A$11 Trillion Real Estate Market

By Nathan Lynch | 15/04/2025

AUSTRAC is preparing to use its new enforcement powers to combat illicit funds flowing through the booming real estate market, writes Nathan Lynch.

AML / KYC

HKMA Directs SVF Licensees to Implement Anti-Scam Measures

By Sanday Chongo Kabange | 15/04/2025

SVF licensees are directed to use the measures set out in a December 2024 circular initially intended for authorised institutions.

AML / KYC

UK Using Quantum Tech to Combat Fraud, Money Laundering

By Manesh Samtani | 15/04/2025

Quantum computing is being used to tackle fraud. HSBC is working to find ways it can be used to identify indicators of money laundering.

AML / KYC

HKMA Unveils New Measures to Bolster E-Banking Security

By Sanday Chongo Kabange | 15/04/2025

Banks must empower customers to adopt bound devices instead of SMS OTPs and deactivate higher risk e-banking functions.

AML / KYC

Thailand Unveils Measures to Combat Digital Asset Mule Accounts

By Manesh Samtani | 15/04/2025

Digital asset businesses will be obligated to exchange information, screen, and suspend transactions or accounts linked to technology-related crimes

AML / KYC

Korean Banks Call for Relaxing Crypto Rules: Report

By Nithya Subramanian | 15/04/2025

Korean bankers called for a relaxation of rules to allow virtual asset exchange to have more than one banking partner.

AML / KYC

China Issues Draft AML Rules for Law Firms for Consultation

By Manesh Samtani | 15/04/2025

Among other things, the draft regulations require law firms to establish internal controls, conduct risk assessments, perform CDD, preserve records, and submit STRs.

AML / KYC

Shedding Light on HSBC’s Use of Machine Learning in Transaction Monitoring

By Manesh Samtani | 14/04/2025

Olivier Franses talks to Regulation Asia about HSBC’s use of machine learning in transaction monitoring, the challenges of implementation, and the resulting benefits.