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Coverage of global AML regulations, compliance standards, enforcement actions, and innovations in detecting and preventing money laundering activities.
Tokenisation
Alibaba, Tencent Tighten Platform Rules Governing NFTs – Report
By Darien Choong | 29/03/2022
NFTs in China are sold in yuan rather than crypto, do not use public decentralised blockchains, and cannot be resold after purchase.
Market Abuse
China Listed Companies Directed to Improve Financial Reporting
By Darien Choong | 27/03/2022
Listed companies are asked to improve the effectiveness of their financial reporting controls and the quality of their accounting information.
Anti-Money Laundering
EBA Outlines AML/CFT Challenges Faced by EU Supervisors
By Ranamita Chakraborty | 27/03/2022
In a new report, the EBA outlines findings from its second round of assessment of the approaches AML/CFT supervisors are using in the banking sector.
DeFi & Web3
IOSCO Forms New Task Force Targeting DeFi Regulation
By Manesh Samtani | 26/03/2022
The task force, chaired by MAS assistant managing director Tuang Lee Lim, will help coordinate policy action to address the risks in DeFi.
Anti-Money Laundering
FSC Korea Starts Enforcing Travel Rule in Crypto Industry
By Editors | 24/03/2022
Starting today, VASPs can be subject to cautions, warnings or corrective orders if violations of travel rule requirements are found.
Cryptocurrency
FCA, BOE Offer New Guidance on Addressing Crypto Risk
By Editors | 24/03/2022
Cryptoassets should be classified as an intangible asset for accounting purposes, meaning that in most cases direct holdings should be fully deducted from CET1.
KYC & CDD
New Zealand Pledges to Enhance Beneficial Ownership Transparency
By Manesh Samtani | 23/03/2022
A new bill will require companies to provide accurate beneficial ownership information. A unique identifier will be assigned to all beneficial owners and directors.
Anti-Money Laundering
FATF Spotlights ML/TF Risks Associated with Migrant Smuggling
By Manesh Samtani | 23/03/2022
Financial institutions have an important role to play in helping authorities profile migrant smugglers’ financial behaviour, the FATF says in a new report.
Fraud, Scams & Cybercrime
HK Police Arrest 38 Individuals for Covid Loan Fraud
By Editors | 23/03/2022
The individuals set up 53 shell companies and submitted false documents to banks to obtain loans under the government support scheme for Covid hit businesses.
Anti-Money Laundering
SG Police Charge Two for Disclosing Singpass Login Details
By Editors | 23/03/2022
The Singpass login details were used by scam syndicates to open new bank accounts to launder the proceeds of crime.
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