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Coverage of global AML regulations, compliance standards, enforcement actions, and innovations in detecting and preventing money laundering activities.
Cryptocurrency
Regulatory Pressure on Binance Builds With Malaysia Ban
By Manesh Samtani | 01/08/2021
Malaysia’s SC has announced enforcement actions. Binance is winding down its derivatives business in Europe. India is probing its involvement in a betting probe.
Anti-Money Laundering
AUSTRAC Consults on AML/CTF Rule Amendments
By Editors | 31/07/2021
The amendments allow FIs to carry out ACIP on a customer after an account is opened, provided the initial deposit is the only transaction made at opening.
Fraud, Scams & Cybercrime
FSC Finds VASP Deposit Accounts Linked to Fraudulent Activity
By Editors | 29/07/2021
Crypto exchanges in Korea are required to use bank accounts under their real names. Third party bank accounts are not allowed.
Emerging Prudential Risks
Australia: Mutual Banks Face “Avalanche” of Regulatory Change
By Manesh Samtani | 28/07/2021
A new benchmarking report from GRC Solutions highlights the challenges incoming regulatory requirements are presenting to the mutual banking sector.
Anti-Money Laundering
Crypto to Become One of the ‘Safest Environments Ever’
By Manesh Samtani | 28/07/2021
Experts discuss regulatory fragmentation, rapid travel rule adoption, and good compliance practices for VASPs.
Cryptocurrency
Singapore: “Several” DPT Licences in Final Stages of Review
By Editors | 27/07/2021
Of around 170 digital payment token service providers who applied for a licence, 30 applications have been withdrawn after engagement with MAS and two have been rejected.
Market Abuse
SFC Calls on Industry to Report Suspected Ramp-and-dump Activity
By Manesh Samtani | 26/07/2021
Ramp-and-dump scams now account for about half of the market manipulation cases being investigated by the SFC. Overseas investors also being targeted.
Anti-Money Laundering
KoFIU Notifies Foreign VASPs of Their Obligation to Register
By Manesh Samtani | 23/07/2021
Foreign VASPs that continue to target Korean customers after 24 September without registering with KoFIU will be subject to penalties in Korea.
Anti-Money Laundering
European Commission Presents Package of AML/CFT Reforms
By Editors | 23/07/2021
A new EU-level AML authority will coordinate national authorities to ensure the private sector correctly and consistently applies EU rules.
Market Abuse
Singapore: Three Individuals Charged for Insider Trading
By Editors | 22/07/2021
The former CFO of SGX-listed Broadway Industrial Group communicated insider information to two other individuals.
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