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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
Myanmar Warns Against Illegal Foreign Exchange Trading
By Mark Johnston | 29/08/2022
The central bank warned that serious action will be taken against online businesses that are found to be illegally buying and selling foreign currencies.
Anti-Money Laundering
Bangladesh Bank Intensifies Crackdown on Illegal FX Transactions
By Mark Johnston | 29/08/2022
Dozens of money changers are being investigated for money laundering. Several banks are accused of making “excessive” profits from dollar sales.
Fraud, Scams & Cybercrime
Addressing Fraud Risk Requires Multi-Pronged Approach – Report
By Editors | 29/08/2022
NICE Actimize and Regulation Asia have published a new white paper exploring the banking industry’s response to fraud and online scams in APAC.
Anti-Money Laundering
BSP Calls for ‘Limited Amendment’ to Bank Secrecy Law
By Editors | 27/08/2022
BSP senior assistant governor Elmore Capule told a Senate Committee the BSP is looking for a “limited relaxation of the bank secrecy laws”.
Anti-Money Laundering
Germany to Form New Federal Authority for Financial Crime
By Editors | 26/08/2022
Germany currently has more than 300 supervisors, an issue highlighted by the FATF in its latest mutual evaluation report on the country.
Supervision & Enforcement
CBIRC Undergoing Internal Restructuring Process – Report
By Editors | 25/08/2022
The CBIRC will form a new Internal Audit Department and merge its Risk Disposal Bureau with its Anti-Crime Bureau.
Anti-Money Laundering
MAS Issues AML Guidance for External Asset Managers
By Manesh Samtani | 25/08/2022
The guidance covers governance, risk assessment frameworks, customer due diligence, enhanced CDD, and suspicious transaction reporting.
Anti-Money Laundering
Wolfsberg Group Issues Guidance on Correspondent Banking RFIs
By Editors | 24/08/2022
When used to its “fullest potential”, the RFI process can provide insights into how respondents’ AML/KYC programmes work in practice.
Fraud, Scams & Cybercrime
SG Police Make Series of Arrests Targeting Scam Syndicates
By Editors | 24/08/2022
4 were arrested over phishing scams targeting bank customers, and another 13 as part of a joint operation with Malaysian police.
Anti-Money Laundering
Malaysia: Federal Court Upholds Najib Razak Conviction
By Editors | 24/08/2022
Najib was convicted in 2020 on 1MDB-related charges. The federal court upheld the conviction, requiring him to serve a 12 year jail sentence.
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