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

    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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    Fraud, Scams & Cybercrime

    NY Court Allows Bangladesh Case Against RCBC to Proceed

    By Editors | 03/03/2024

    Bangladesh Bank’s lawsuit against the Philippines’ RCBC and its senior executives will be allowed to proceed, minus three causes of action.

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    Anti-Money Laundering

    Philippines: FIs That Deal with Unregistered DNFBPs Will Face Penalties

    By Sanday Chongo Kabange | 29/02/2024

    The AMLC said covered persons can only conduct business dealing with DNFBPs if they have valid registration certificates.

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    Anti-Bribery & Corruption

    Hong Kong Concludes First International Anti-Corruption Training

    By Sanday Chongo Kabange | 29/02/2024

    The training programme, co-organised by the ICAC and UNODC, brought together participants from 19 jurisdictions.

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    Anti-Money Laundering

    FATF Consults on R.16 Changes to Improve Payment Transparency

    By Manesh Samtani | 27/02/2024

    The revisions would help guard against fraud by requiring beneficiary FIs to check the alignment of beneficiary information in payment messages.

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