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Coverage of global AML regulations, compliance standards, enforcement actions, and innovations in detecting and preventing money laundering activities.
Cryptocurrency
Japan Set to Relax Rules for Crypto Token Listings – Report
By Sanday Chongo Kabange | 23/10/2022
Crypto tokens will reportedly be able to list within 30 days. Currently, the screening process for a new listing takes around six months to a year.
KYC & CDD
NZ FMA Issues Formal Warning to InvestNow Over AML Failures
By Editors | 22/10/2022
InvestNow had deficiencies in its processes for verifying customer identities and conducting CDD, EDD and SoW/SoF checks.
PEPs & Sanctions
US Sanctions, Files Criminal Charges Against Russians
By Editors | 21/10/2022
The sanctions target a procurement network supplying technology to Russia. The indictment explains that crypto was used to facilitate the payments.
Cryptocurrency
Bangladesh Banks Ordered to Stamp Out Crypto Activity
By Mark Johnston | 21/10/2022
Bangladesh Bank has ordered FIs to enhance their monitoring and report transactions suspected to be linked to crypto assets.
Fraud, Scams & Cybercrime
INTERPOL Launches First Global Police Metaverse
By Editors | 20/10/2022
INTERPOL Metaverse users can interact with other officers and take training courses. A new expert group will work to secure the metaverse from crime.
Anti-Money Laundering
Philippine May Pass Bank Secrecy Law Amendments Next Month
By Editors | 20/10/2022
The amendments will allow the BSP to look into deposit accounts for inquiries into fraud, serious irregularity, and unlawful activity.
Anti-Money Laundering
IMF Publishes Guide to Beneficial Ownership Transparency
By Editors | 18/10/2022
Despite guidance issued by the FATF over the years, effective implementation of beneficial ownership requirements is still a challenge for many countries, says the IMF’s Bo Li.
Anti-Money Laundering
NSW Regulator Imposes Max Penalty on Casino Giant The Star
By Editors | 18/10/2022
Casino giant The Star has been fined A$100mn and had its licence in NSW suspended due to its failure to prevent money laundering at its Sydney casino.
Anti-Money Laundering
Japan Cabinet Passes Bill to Strengthen AML System
By Editors | 18/10/2022
Crypto exchanges will be obliged to share information on users and screen customers against sanctions lists.
Anti-Money Laundering
FCA Fines UK Challenger Bank for Weak AML Controls
By Editors | 17/10/2022
Gatehouse Bank failed to perform appropriate checks on customers based in high-risk countries and customers that were classified as PEPs.
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