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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
HKMA Publishes Initial Observations from AMLab Series
By Manesh Samtani | 02/10/2022
The HKMA plans to run a network analytics-themed AMLab again later this year to give more banks an opportunity to take part.
Stablecoins
Korean National Assembly to Question Crypto Execs on Terra
By Editors | 02/10/2022
TerraForm Labs accuses Korean prosecutors of overreach. Luna Foundation Guard money allegedly transferred overseas.
Stablecoins
IMF Calls for Global Coordination on Stablecoin Regulation
By Sanday Chongo Kabange | 01/10/2022
In markets where risks are growing quickly, authorities should take immediate action, including by introducing targeted measures to “slow down stablecoin adoption”.
Cryptocurrency
UK FCA Grants Revolut Approval to Offer Crypto Services
By Editors | 01/10/2022
Revolut was allowed to remain on a temporary register after a March deadline for approvals until its application was fully processed.
KYC & CDD
FinCEN Issues Final Rule for Beneficial Ownership Reporting
By Editors | 30/09/2022
The rule is effective from 1 January 2024. Existing companies will have one year to report information about their beneficial owners to FinCEN.
CBDCs
China to Strengthen ‘Controllable Anonymity’ Feature of e-CNY
By Darien Choong | 30/09/2022
Twenty defendants have been arrested on suspicion of illegal business activity and money laundering using the e-CNY.
Anti-Money Laundering
Japan to Adopt Travel Rule in Crypto in May 2023 – Report
By Editors | 29/09/2022
The FSA plans to submit amendments to the Act on Prevention of Transfer of Criminal Proceeds to a parliamentary session next week.
Anti-Money Laundering
Korea FSS Finds More Suspicious Crypto-Linked FX Transactions
By Editors | 28/09/2022
FSS investigations have so far involved 82 corporates and 12 banks. The total value of abnormal FX transactions discovered is now $7.2bn.
Anti-Money Laundering
AUSTRAC Identifies Emerging AML Risks Facing Super Funds
By Sanday Chongo Kabange | 28/09/2022
Super funds are exposed to cyber crime, as well as AML risks resulting from the growth in merger activity across the sector.
Anti-Money Laundering
AUSTRAC Spotlights Risks Associated with Remittance Sector
By Sanday Chongo Kabange | 27/09/2022
Most remittance dealers and remittance network providers did not submit any SMRs in the reporting period assessed by AUSTRAC.
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