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Coverage of global AML regulations, compliance standards, enforcement actions, and innovations in detecting and preventing money laundering activities.
Anti-Money Laundering
AUSTRAC Launches Federal Court Proceedings Against SkyCity
By Sanday Chongo Kabange | 08/12/2022
The proceedings against SkyCity are the third AUSTRAC has brought against casino operators, after similar cases were launched against Star and Crown casino entities.
Cryptocurrency
Taiwan Regulators to Expand Scope of Crypto Regulation
By Editors | 08/12/2022
In response to the FTX collapse, Taiwan’s FSC plans to introduce regulations requiring local crypto exchanges to segregate their customers’ assets.
Anti-Money Laundering
Korea FSS Directs Shinhan Bank to Bolster Crypto AML Systems
By Editors | 08/12/2022
The recommendations follow bank inspections that were launched in response to suspicious FX transactions used by customers to exploit the so-called “kimchi premium”.
Anti-Money Laundering
Japan Lawmakers Approve Revisions to Anti Financial Crime Laws
By Editors | 07/12/2022
The revisions will allow Japanese authorities to criminally punish crypto firms that do not comply with the Travel Rule.
Anti-Money Laundering
International Operation Targeting Money Mules Yields 2,500 Arrests
By Editors | 07/12/2022
The operation involved law enforcement agencies in 25 countries including Singapore and Australia, supported by Europol, Eurojust, INTERPOL and the EBF.
Anti-Money Laundering
Wolfsberg Group Endorses Use of AI/ML for Financial Crime Compliance
By Manesh Samtani | 05/12/2022
New report sets out five principles that support the ethical and responsible use of artificial intelligence and machine learning in financial crime compliance.
Anti-Money Laundering
AUSTRAC Consults on Drafts Guidance to Address Debanking
By Sanday Chongo Kabange | 05/12/2022
FIs should consider a remitter’s, DCE’s or fintech’s registration with AUSTRAC as a mitigating factor when assessing its ML/TF risks.
Anti-Money Laundering
Swimming in Dirty Money: It’s Time to Dive Below the Surface
By Tom Keatinge | 05/12/2022
The failure to address the illicit finance in illegal, unreported and unregulated fishing is a glaring omission, says RUSI’s Tom Keatinge.
Anti-Money Laundering
FATF Calls on AML Practitioners to Target Opioids Trafficking
By Manesh Samtani | 02/12/2022
New FATF report provides risk indicators to help identify opioids trafficking, noting that FIs and DNFBPs are an “important source of information” for FIUs.
Anti-Money Laundering
Texas Unseals Charges Against 21 Crypto Money Launderers
By Editors | 02/12/2022
The 21 US citizens charged helped to move proceeds from US fraud victims to foreign criminal organisations using crypto.
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