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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    Cryptocurrency

    Hong Kong: More Clarity Needed on Proposed OTC Crypto Regime

    By Nithya Subramanian | 07/03/2024

    Clarity is needed on the scope of activities captured by the regime, how stablecoins will fit into the regime, and how professional investors will be treated.

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    Anti-Money Laundering

    BSP to Enhance Reporting Rules for Money Services Businesses

    By Editors | 06/03/2024

    MSBs would also need to notify the BSP within five days of any event which may have a significant negative impact on their business or reputation.

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    Anti-Money Laundering

    Singapore ACRA to Streamline Corporate Regulatory Processes

    By Nithya Subramanian | 06/03/2024

    A tiered framework will be established to enable ACRA to disclose data to meet statutory obligations relating to anti-money laundering.

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    Anti-Money Laundering

    Singapore Shell Companies Linked to Illicit Activity in India

    By Nithya Subramanian | 06/03/2024

    India’s Enforcement Directorate has uncovered a web of money laundering activities involving the use of shell companies from Singapore.

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    Anti-Money Laundering

    Financial Crime Compliance Costs Grow in APAC: Study

    By Nithya Subramanian | 06/03/2024

    A study from LexisNexis Risk Solutions finds the higher costs are attributed to technology, labour, and the growing use of crypto and AI tech for illicit activities.

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    Cryptocurrency

    Vietnam to Develop Legal Framework for Crypto by 2025

    By Sanday Chongo Kabange | 05/03/2024

    The government has directed the Ministry of Finance to develop a legal framework for banning or regulating virtual assets.

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    Cryptocurrency

    Taiwan to Propose Draft Crypto BIll in September

    By Mark Johnston | 05/03/2024

    The bill aims to create comprehensive regulations for the crypto industry, improve investor protections, and address risks to the traditional financial system.

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    KYC & CDD

    Wolfsberg Group Publishes Updated Country Risk FAQs

    By Manesh Samtani | 04/03/2024

    FIs must strike a balance in how they assess country risk and apply their consideration in customer and other risk frameworks.

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    Fraud, Scams & Cybercrime

    1,200 Victims Freed from ‘Notorious’ Scam Centre in Myanmar

    By Editors | 04/03/2024

    Most of the rescued victims are Chinese nationals, who are being taken to an airport in Thailand and flown back to China.

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    Anti-Money Laundering

    Russia Re-rated on Four FATF Recommendations

    By Editors | 04/03/2024

    Russia was upgraded on R.6, R.7, and R.25, and downgraded on R.15 because digital currency activities are largely unregulated.

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