Anti-Money Laundering

Anti-Money Laundering

AUSTRAC Outlines Planned Enhancements to Reporting System

By Editors | 29/09/2021

A four-year transformation programme will introduce a “modern and intuitive user interface” and high-speed channels for file uploads, among other changes.

Anti-Money Laundering

HKMA Identifies AML/CFT Gaps in Stored Value Facilities

By Sanday Chongo Kabange | 27/09/2021

The HKMA flagged issues related to risk assessments, business partner arrangements, customer risk assessments, and transaction monitoring.

Cryptocurrency

Korea: 29 Crypto Exchanges Meet Registration Deadline

By Manesh Samtani | 26/09/2021

The applications will be processed within three months, following which approved exchanges will be subject to AML rules announced in March.

Cryptocurrency

Crypto Should Re-examine Relationship with Regulators, and Vice Versa

By Andy Meehan | 25/09/2021

Andy Meehan says greater collaboration is needed between industry players and regulators to advance ‘sensible’ regulation and ensure the public is properly educated.

Anti-Bribery & Corruption

China Targets Corruption with New Supervision Law

By Sanday Chongo Kabange | 25/09/2021

Supervisors are asked to crack down on the use of offshore companies and underground banks to transfer illegal income and property involved in duty-related crimes.

Anti-Money Laundering

FATF Report Highlights Opportunities for Japan’s FIs

By Matthew Field | 24/09/2021

Matthew Field discusses how Japan’s FIs can enhance the maturity of their AML programmes through a data-driven approach that places the customer entity in focus.

Anti-Money Laundering

Basel AML Index Calls Out Ineffectiveness Across Jurisdictions

By Manesh Samtani | 21/09/2021

Areas of AML/CFT policy that urgently need more attention are virtual assets, implementation effectiveness, beneficial ownership, and DNFBPs.

Supervision & Enforcement

Malaysia Secures Settlement from KPMG to Resolve 1MDB Claims

By Editors | 18/09/2021

The settlement concludes a civil suit filed against KPMG and its current and former partners over the audits 1MDB’s 2010-2012 financial statements.

Anti-Money Laundering

SFC Finalises AML Guidelines for Securities Sector

By Manesh Samtani | 15/09/2021

The guidelines will take effect on 30 September, except for the new cross-border correspondent relationships requirements, which take effect six months later.