Anti-Money Laundering

    Coverage of global AML regulations, compliance standards, enforcement actions, and innovations in detecting and preventing money laundering activities.

    Anti-Money Laundering

    Taiwan Amends AML Rules to Prevent Risk in Overseas Remittances

    By Editors | 19/12/2021

    The amendments specify obligations to ensure policies, procedures and internal controls are in place to prevent risks associated with overseas remittances.

    Anti-Money Laundering

    FCA Fines HSBC Over ‘Prolonged’ AML Deficiencies

    By Manesh Samtani | 19/12/2021

    Three key parts of HSBC’s automated transaction monitoring systems showed “serious weaknesses” between March 2010 to March 2018.

    KYC & CDD

    New Zealand DIA, FMA Issue Directions on Outsourced CDD

    By Editors | 19/12/2021

    Outsourced CDD does not exist in isolation from reporting entities’ wider CDD procedures and obligations, the DIA and FMA said.

    Anti-Money Laundering

    SFC Fines Mason Securities for AML Breaches

    By Editors | 17/12/2021

    In deciding the disciplinary sanction, the SFC took into account the “extensive period of time” over which the failures occurred.

    Anti-Money Laundering

    FinCEN Seeks Comments on Modernising US AML/CFT Regime

    By Sanday Chongo Kabange | 15/12/2021

    FinCEN’s review of BSA regulations will help it to identify regulations and guidance that are out-dated, redundant, inefficient, or unfit for purpose.

    Anti-Money Laundering

    UK Court Convicts, Fines NatWest for AML Failings

    By Editors | 15/12/2021

    NatWest’s accepted cash deposits worth around GBP 264 million. The case represents the first time the FCA has pursued criminal charges for money laundering failings.

    Anti-Money Laundering

    IMF, WB Propose Framework for Assessing Remittance Corridor Risk

    By Sanday Chongo Kabange | 14/12/2021

    Corridor risk assessments will help to simplify AML/CFT and CDD measures in lower-risk remittance transactions.

    Anti-Money Laundering

    FATF Calls for Global Action on Environmental Crime

    By Editors | 13/12/2021

    For the first time, the UNODC, UNEP and CITES met with the FATF to discuss partnerships to fight money laundering from environmental crimes.

    Anti-Money Laundering

    US Treasury Targets Human Trafficking in Updated Action Plan

    By Mark Johnston | 12/12/2021

    Treasury will leverage its AML expertise to augment human trafficking investigations, and develop advisories to alert FIs to potential red flags.

    AI Risk & Governance

    Regulation Asia Awards for Excellence 2021 – Results Announcement

    By Editors | 10/12/2021

    Regulation Asia held its fourth annual Awards ceremony on 9 December 2021. Here we explain our methodology and announce the winners for the year.

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