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Coverage of global AML regulations, compliance standards, enforcement actions, and innovations in detecting and preventing money laundering activities.
KYC & CDD
Tax Justice Network: Measures to Address Complex Ownership
By Manesh Samtani | 21/02/2022
Countries should ‘name and shame’ companies with highly complex ownership structures and consider forcing ‘too complex to fail’ companies to simplify.
Anti-Money Laundering
Suisse Secrets: Data Leak Reveals Criminals Clients at Swiss Bank
By Manesh Samtani | 21/02/2022
The data unearthed evidence that Credit Suisse accounts were used by clients involved in torture, drug trafficking, money laundering, corruption and other serious crimes.
Anti-Money Laundering
US DOJ Appoints First Director of National Crypto Enforcement Team
By Editors | 20/02/2022
The FBI has meanwhile created a new “Virtual Asset Exploitation Unit”, which will provide analysis, support, training and new tools to stay ahead of future crypto-related threats.
Fraud, Scams & Cybercrime
UK HMRC Seizes Three NFTs in Fraud Investigation
By Editors | 20/02/2022
Three people were arrested on suspicion of attempting to defraud HMRC using 250 fake companies. This is the first time a UK agency has seized NFTs.
Payments & Settlements
Sri Lanka Launches National Remittance Mobile App
By Duruthu E Chandrasekera | 20/02/2022
The new mobile app is expected to lower the cost of inward remittances by foreign workers and reduce the use of black market channels.
Anti-Money Laundering
18 Crypto Exchanges Jointly Launch Travel Rule Solution
By Editors | 18/02/2022
The firms include BitGo, bitFlyer, Bittrex, BlockFi, Circle, Coinbase, Fidelity Digital Assets, Gemini, Kraken, and Robinhood, among others.
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.
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