Anti-Money Laundering

    Coverage of global AML regulations, compliance standards, enforcement actions, and innovations in detecting and preventing money laundering activities.

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    Anti-Money Laundering

    Singapore: ACIP Sheds Light on Use of Data Analytics for AML/CFT

    By Manesh Samtani | 30/03/2024

    New paper discusses current and future uses of data analytics for AML/CFT, and how information shared over COSMIC could be leveraged to enhance such solutions.

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    Anti-Money Laundering

    MAS Extends Suspension on “Non-Specified Channels” for China Remittances

    By Ranamita Chakraborty | 30/03/2024

    Since the initial suspension in December, MAS has not received reports of remittances to China being frozen.

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    Cryptocurrency

    Taiwan Approves Establishment of Local Crypto Industry Association

    By Mark Johnston | 29/03/2024

    The association will be responsible for formulating industry norms, advocating compliant operations, and improving industry self-discipline.

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    Anti-Money Laundering

    FATF Re-rates Australia on Six Recommendations

    By Mark Johnston | 29/03/2024

    Australia was upgraded on five recommendations and downgraded on R.15 due to the limited scope of its regulatory regime for VASPs.

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    Supervision & Enforcement

    Wolfsberg Group Addresses Role of Internal Audit Function

    By Editors | 29/03/2024

    The Group offers a set of principles as guidance for the IA function to promote effective financial crime risk management within FIs.

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    PEPs & Sanctions

    US, UK Probing $20b in Tether Transfers to Russia’s Garantex – Report

    By Editors | 28/03/2024

    There is no immediate suggestion of wrongdoing by Tether Holdings, the BVI-incorporated issuer of USDT.

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    Anti-Money Laundering

    BIS Innovation Hub Launches New Phase of AML Project

    By Manesh Samtani | 28/03/2024

    Phase 2 of Project Aurora aims to, among other things, deliver real-world proofs-of-concept that could scale to a potential pilot.

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    Anti-Money Laundering

    Advice Industry Seeks Clarity on AUSTRAC Outsourcing Guidance

    By Sanday Chongo Kabange | 28/03/2024

    The Financial Advice Association Australia calls on AUSTRAC to provide clear definitions of outsourcing versus reliance arrangements.

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    Anti-Money Laundering

    FATF Upgrades US Rating on Beneficial Ownership Transparency

    By Editors | 27/03/2024

    The FATF cites the ongoing implementation of requirements for companies to report beneficial ownership information to FinCEN.

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    PEPs & Sanctions

    Belgian Authorities Arrest Six Over Russian Diamond Imports

    By Editors | 27/03/2024

    The arrests, which reportedly include some Indian traders, followed the seizure of millions of euros worth of Russian diamonds last month.

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