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Coverage of global AML regulations, compliance standards, enforcement actions, and innovations in detecting and preventing money laundering activities.
Anti-Money Laundering
Japan Banks to Deploy Shared System for AML/CFT Monitoring
By Manesh Samtani | 22/07/2021
The FSA’s Hiroshi Ozaki said the banking sector is planning to deploy a shared transaction monitoring and screening system for AML/CFT across the industry.
Anti-Money Laundering
HKMA Targets Effectiveness in Addressing AML, Fraud risk
By Manesh Samtani | 22/07/2021
HKMA Executive Director Carmen Chu highlights the need for transformation and collaboration to combat new AML and fraud challenges in the digital era.
Anti-Money Laundering
Singapore Man Admits to Laundering Money in SkillsFuture Scam
By Ranamita Chakraborty | 20/07/2021
A former Grab and Uber driver has admitted to playing the role of a “dummy director” of several shell companies involved in the SkillsFuture scam.
Anti-Money Laundering
SFC Sanctions Sino-Rich Responsible Officers Over AML Breaches
By Editors | 20/07/2021
Sino-Rich Securities & Futures was fined for AML breaches in March. Its CEO and another director have been deemed responsible.
Anti-Money Laundering
HK Customs Arrests Four for Laundering Funds Using Tether
By Sanday Chongo Kabange | 19/07/2021
The four are part of a syndicate that charged criminal clients a commission of 3-5% to launder illicit proceeds from crime.
KYC & CDD
NZ FMA Issues New Guidance on Electronic ID Verification
By Editors | 18/07/2021
A new Explanatory Note identifies electronic sources of information that reporting entities can use for identity verification.
Anti-Money Laundering
European Commission Seeks Establishment of New AML Authority
By Ranamita Chakraborty | 15/07/2021
The new authority would be able to directly oversee the financial firms operating across multiple member states and issue penalties for AMLviolations.
Anti-Money Laundering
Japan FSA, BOJ to Assess AML, Anti-fraud Measures at FIs
By Manesh Samtani | 14/07/2021
The FSA and BOJ are reportedly looking to better understand whether AML, anti-fraud, and cybersecurity measures at FIs are adequate.
Fraud, Scams & Cybercrime
MAS, ABS Working to Improve Safeguards Against Scams – Reports
By Ranamita Chakraborty | 14/07/2021
A task force has been set up to help Singapore’s financial industry improve safeguards against scams and fraudulent transactions.
Cryptocurrency
Korea to Require Overseas Crypto Exchanges to Register with KoFIU
By Editors | 14/07/2021
Cryptocurrency exchanges based outside Korea would be required to register with KoFIU if they use the Korean won for settlement.
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