Anti-Money Laundering

Anti-Money Laundering

Philippines Doubles EDD Threshold for Cash Withdrawals to PHP 1 Million

By Sanday Chongo Kabange | 04/03/2026

The move aims to ease the burden on legitimate business transactions while allowing FIs to focus AML resources on higher-risk activities.

Anti-Money Laundering

AUSTRAC Chief Details New AML Rules for Legal Profession

By Sanday Chongo Kabange | 04/03/2026

Brendan Thomas outlines mandatory enrolment, CDD, and reporting obligations as AUSTRAC moves to close a 'significant hole' in the country's AML defences.

Anti-Money Laundering

BIS Paper Urges Consistent AML Rules for Cash, Crypto and CBDCs

By Manesh Samtani | 04/03/2026

New BIS paper warns that inconsistent AML rules create arbitrage, pushing illicit funds to the least regulated payment methods.

Anti-Money Laundering

FSS Korea Sanctions KB Life Insurance for AML Control Failures

By Nithya Subramanian | 04/03/2026

The regulator cited failures in monitoring high-risk customers and enforcing internal controls, underscoring tighter scrutiny of AML compliance in Korea’s insurance sector.

Anti-Money Laundering

FATF Issues Targeted Report on Stablecoin and Unhosted Wallet Risks

By Manesh Samtani | 04/03/2026

New report details rising misuse and recommends new controls for issuers, VASPs, and national regulators.

Anti-Money Laundering

Korea, Thailand to Share Crypto Data and Collaborate Against Tax Evasion

By Mark Johnston | 04/03/2026

Tax authorities in South Korea and Thailand have signed an agreement to exchange cryptocurrency data and tackle offshore evasion.

Anti-Money Laundering

Cambodia Launches New National Risk Assessment Report

By Manesh Samtani | 03/03/2026

The country's second AML assessment flags crypto as 'Medium High' risk and details plans for a formal licensing regime.

Anti-Money Laundering

FATF Urges Shift in Focus from Procedural Compliance to Tangible Outcomes

By Manesh Samtani | 03/03/2026

FATF urges a pivot from rules-based compliance to focusing resources on the highest financial crime risks.

Anti-Money Laundering

Tonga Boosts AML Powers to Combat Crime, Secure Banking Ties

By Manesh Samtani | 03/03/2026

New legislation enhances supervision and asset recovery to combat organised crime and secure crucial international correspondent banking relationships, officials say.