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Coverage of global AML regulations, compliance standards, enforcement actions, and innovations in detecting and preventing money laundering activities.
CBDCs
RBNZ to Commence Design Work on CBDC Proof of Concept
By Mark Johnston | 10/02/2022
Governor Adrian Orr said falling behind other central banks is “not an option” and the RBNZ will soon begin POC design and testing for a CBDC.
Anti-Money Laundering
AUSTRAC Issues Guidance on Identifying Forced Sexual Servitude
By Editors | 07/02/2022
New financial crime guide provides practical advice to enable banks, businesses, and other FIs to identify and report potential cases of forced sexual servitude.
Cryptocurrency
Crypto Prepares for a Regulated Future
By David Liu | 07/02/2022
As crypto goes mainstream, regulatory compliance will require robust and financial institution-grade AML and KYC processes, says David Liu.
Fraud, Scams & Cybercrime
Australian Billionaire Launches Criminal Proceedings Against Facebook
By Editors | 06/02/2022
Fortescue Metals Group chairman Andrew Forrest alleges that Facebook broke AML laws by failing to prevent crypto scams from being advertised on its platform.
Emerging Prudential Risks
Skills Gap a Key Bottleneck for Macao Financial Sector: IMF
By Sanday Chongo Kabange | 02/02/2022
The IMF proposes a multi-prong approach to bridge the skills gap and support the development of modern financial services in Macao.
Anti-Money Laundering
EBA Launches EuReCA, a Central Database for AML/CFT
By Editors | 01/02/2022
EuReCA will act as an early warning tool which will help competent authorities to act before ML/TF risks crystallise, the EBA said.
Anti-Money Laundering
Europol Outlines Different Ways Criminals Use Cryptocurrency
By Sanday Chongo Kabange | 29/01/2022
A new Europol report highlights that the illicit use of crypto includes “all types of crime that require transfers of monetary value”.
Anti-Money Laundering
Taiwan FSC Identifies Crypto ATMs Breaching AML Rules
By Editors | 28/01/2022
Of 16 companies that have reported their AML compliance to the FSC, 13 will be required to make corrections.
Tokenisation
Will 2022 Be the Year of NFT Regulation?
By Javier Tamashiro | 27/01/2022
The jury is still out on how the NFT arena will be regulated, but marketplaces should still be applying a baseline standard of compliance practice, says Javier Tamashiro.
Fraud, Scams & Cybercrime
HK ICAC Charges Three Ex-StanChart Employees For Fraud
By Editors | 27/01/2022
The former relationship managers were among five individuals indicted for conspiring to deceive Japanese investors with false documents.
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