Anti-Money Laundering

Cryptocurrency

EU Officials Formally Sign MiCA Into Law

By Sanday Chongo Kabange | 02/06/2023

The MiCA legislation was signed into law on Wednesday by European Parliament president Roberta Metsola and Swedish minister Peter Kullgren.

Anti-Money Laundering

NZ’s Ministry of Justice Releases Amended AML Regulations

By Editors | 01/06/2023

From 1 June 2024, new obligations will be imposed on reporting entities related to virtual asset transfers, deposits, withdrawals, and exchange.

PEPs & Sanctions

MAS Introduces Reporting Obligations for Exempted Payments Firms

By Manesh Samtani | 01/06/2023

Crypto firms still under a PSA exemption have to report the total number of “higher risk customers” they serve, such as PEPs and their close associates.

Anti-Money Laundering

BIS Innovation Hub Concludes Study on Data Technologies for AML

By Manesh Samtani | 01/06/2023

Project Aurora highlighted the importance of payments data and demonstrated how privacy-enhancing technologies can enhance cross-border collaboration.

PEPs & Sanctions

OFAC Sanctions More Chinese Entities Over Fentanyl Epidemic

By Editors | 01/06/2023

The Chinese embassy in Mexico said the accusations are groundless and that China has been vigorously carrying out international anti-drug law enforcement cooperation

Cryptocurrency

Korea FSS Preparing New Supervision System for Crypto Industry

By Manesh Samtani | 31/05/2023

The FSS is calling on the crypto industry to improve their self-regulatory capabilities until the new Virtual Asset User Protection Act is fully implemented.

Anti-Money Laundering

Perth Mint Misses AUSTRAC Deadline, CEO Resigns

By Editors | 31/05/2023

The delay was attributed to the complexity of the audit and the challenges in gathering the required information.

Anti-Money Laundering

HKMA: Revised AML Guideline Raises Focus on Effectiveness

By Ranamita Chakraborty | 31/05/2023

HKMA’s Carmen Chu says an external consultant has been engaged to help prepare a new guidance paper on AML/CFT controls for PEPs.

Anti-Money Laundering

APRA, AUSTRAC Enter Enforceable Undertakings With BoQ

By Editors | 31/05/2023

For APRA’s enforceable undertaking, Bank of Queensland has to set aside an extra A$50mn in regulatory capital.