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Coverage of global AML regulations, compliance standards, enforcement actions, and innovations in detecting and preventing money laundering activities.
Payments & Settlements
Bangladesh Revises Rules on Mobile Financial Services
By Sanday Chongo Kabange | 17/02/2022
The revised regulations allow financial institutions other than banks, as well as government entities, to provide mobile financial services.
Anti-Money Laundering
A Radical Re-think of Financial Crime Compliance
By Kelvin Toh | 17/02/2022
A fundamental rethink of FCC is needed to move away from tick-box compliance and ensure greater focus on effectiveness and outcomes, says Kelvin Toh.
Anti-Money Laundering
AUSTRAC Orders Bell Financial to Address AML Compliance Issues
By Editors | 17/02/2022
An external auditor has to be appointed to examine AML compliance at three entities within the Bell Financial Group.
KYC & CDD
BOT Intervenes to Facilitate PayPal Transition to Local Service
By Darien Choong | 16/02/2022
PayPal has to relaunch services in Thailand to comply with new tax reporting rules and local AML regulations.
Anti-Money Laundering
MAS Tables Bill to Obtain Enhanced Regulatory Powers
By Sanday Chongo Kabange | 15/02/2022
The Financial Services and Markets Bill will give MAS enhanced regulatory powers to address misconduct, crypto asset and technology risks.
Anti-Money Laundering
In Conversation With Siddhant Sahai, Deutsche Bank
By Bradley Maclean | 15/02/2022
Siddhant Sahai says a greater focus on inter-bank relationship monitoring and timely sharing of information are needed to truly address financial crime risks.
Anti-Money Laundering
SFC Fines South China Commodities for AML Breaches
By Editors | 14/02/2022
This is the third action the SFC has taken against a licensed firm over the use of Xinguanjia, a customer supplied system provided by Hengxin Software.
KYC & CDD
New CDD Rules to Have ‘Limited’ Impact on Customers: PBOC
By Editors | 13/02/2022
The PBOC has responded to concerns about incoming rules that will require banks to perform extra due diligence for deposits and withdrawals exceeding CNY 50,000.
Anti-Money Laundering
Australia Senate Introduces Tranche 2 Reform Bill, Again
By Manesh Samtani | 13/02/2022
The bill, if passed, will help fulfill a nearly 16-year-old commitment to bring gatekeeper professions within Australia’s AML regime, and require the establishment of a public UBO register.
Anti-Money Laundering
In Conversation With Nathan Newman, AUSTRAC
By Bradley Maclean | 11/02/2022
Nathan Newman says regulated entities are uplifting their AML capabilities but could do more to apply appropriate assurance to their upgrades.
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