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Coverage of global AML regulations, compliance standards, enforcement actions, and innovations in detecting and preventing money laundering activities.
KYC & CDD
UK Launches UBO Register for Foreign-owned Property
By Manesh Samtani | 03/08/2022
The register requires foreign buyers of UK property to disclose their true beneficial ownership and verify their identities with Companies House.
Fraud, Scams & Cybercrime
Korea FSS Completes Woori Bank Embezzlement Inspection
By Editors | 02/08/2022
The inspection found that the amount embezzled was more than originally reported, and the Woori had insufficient internal controls in place.
Anti-Money Laundering
AUSTRAC Proposes Rule Change to Accommodate ISO 20022
By Editors | 29/07/2022
The proposed amendments will enable reporting entities to submit IFTIs using the ISO 20022 message format.
Cryptocurrency
Taiwan Prohibits Credit Card Usage for Crypto Transactions
By Darien Choong | 28/07/2022
Credit card companies that process payments for transactions involving virtual assets will have three months to stop.
Anti-Money Laundering
FATF Issues Final AML Guidance for Real Estate Sector
By Editors | 27/07/2022
The guidance sets out the primary risks for the real estate sector and the measures needed to take adequately mitigate these risks.
Anti-Money Laundering
UK: Most Crypto Firms Simply Withdrew Their FCA Applications
By Mark Johnston | 26/07/2022
The FCA approved 35 crypto firms out of 273 that applied for registration with the FCA under AML regulations.
Anti-Money Laundering
SFC Fines Fourth Broker Over Use of ‘Xinguanjia’ Trading Software
By Manesh Samtani | 26/07/2022
The software enabled Mainland investors to trade in Hong Kong without having to open a local securities account. Rifa Futures was fined HKD 9 million for AML and other failures.
Anti-Money Laundering
Panel 6: New Payment Methods and Digitally Enabled Money Laundering
By Editors | 26/07/2022
This panel discusses the ways emerging payment mechanisms can be used for illicit purposes, and how regulators, law enforcement and financial institutions are responding.
Anti-Money Laundering
Panel 7: Financial Crime and Due Diligence in the Era of Sustainability
By Editors | 26/07/2022
This panel explores approaches to detecting environmental crime through increased emphasis on financial flows and cross-sectoral collaboration.
KYC & CDD
Panel 3: Rising Expectations: KYC, Ongoing Monitoring, Name Screening
By Editors | 26/07/2022
This panel will discuss the measures financial institutions are taking to better manage customer risk through KYC, monitoring and screening processes.
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