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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
US Treasury Seeks Input on Illicit Finance Risks in Crypto
By Editors | 19/09/2022
The RFC calls for input on how to prevent crypto from being used for illicit finance, including through analytics tools and AML/CFT regulations.
Tokenisation
FSTB, SFC Declare Support for STO Business in Hong Kong
By Editors | 19/09/2022
The SFC’s Elizabeth Wong said firms that are interested in STOs are encouraged to discuss their proposals with the regulator’s Fintech unit.
CBDCs
US Unveils Comprehensive Plans for Regulating Digital Assets
By Manesh Samtani | 18/09/2022
Reports released by the White House, Treasury, Commerce and DOJ will help ensure a coordinated and comprehensive approach to digital assets policy.
Anti-Money Laundering
Bangladesh Considers Introducing Market-based FX Rates
By Editors | 18/09/2022
Recent rate fixing is called “discriminatory” against exporters. A new legal framework is being set out to facilitate the confiscation of unreported offshore assets.
Anti-Money Laundering
Puerto Rico Authority Agrees on Liquidation of Euro Pacific Bank
By Editors | 17/09/2022
Euro Pacific Bank customers will recoup 100 percent of their deposits. Several hundred investigations are still underway globally over whether the bank was used for tax evasion.
Anti-Money Laundering
MAS Identifies AML/CFT Control Lapses at VCCs
By Manesh Samtani | 14/09/2022
MAS found issues with EFI appointment, oversight and escalation. Customer risk assessments and ongoing monitoring need improvement.
Anti-Money Laundering
FATF, INTERPOL to Ramp Up Global Asset Recovery Efforts
By Editors | 13/09/2022
The FATF and INTERPOL will work to improve international efforts to freeze, seize and confiscate criminal assets including by enhancing cooperation frameworks and available tools.
Anti-Money Laundering
Australian Federal Police Forms Cryptocurrency Unit
By Editors | 13/09/2022
The new unit will target assets and provide investigative tracing capabilities for all of the AFP’s commands across all of its businesses.
Anti-Money Laundering
AUSTRAC Launches AML Probe into Entain Group
By Editors | 13/09/2022
London-listed betting company Entain Group was also fined last month by the UK Gambling Commission for AML and social responsibility failures.
Anti-Money Laundering
Five Korean Crypto Exchanges Face AML Penalties
By Editors | 12/09/2022
Most of the funds involved in Woori and Shinhan’s suspicious wire transfers came from five crypto exchanges and were not reported.
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