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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
FATF Examines Collaborative Analytics and the Need for Privacy
By Manesh Samtani | 06/07/2021
An AML risk information sharing platform in trial operation in China allows FIs to check whether a customer is labelled high risk by other FIs without any customer data being exchanged.
Anti-Money Laundering
SFC Fines Yardley Securities CEO for AML/CFT Breaches
By Editors | 05/07/2021
The processing and approval of suspicious third party fund transfers were attributable to the CEO’s failures to discharge his duties, the SFC said.
Anti-Money Laundering
Taiwan: New AML Rules For Crypto Exchanges Take Effect
By Sanday Chongo Kabange | 05/07/2021
Crypto exchanges in Taiwan have to report transactions worth more than TWD 500,000 and fulfill KYC requirements.
Anti-Money Laundering
FinCEN Publishes First Government-wide AML/CFT Priorities
By Ranamita Chakraborty | 05/07/2021
FinCEN will publish new rules within 6 months reflecting the priorities, which identify the most significant AML/CFT threats currently facing the US.
Anti-Money Laundering
FATF Examines Technology Use in AML/CTF Efforts
By Manesh Samtani | 05/07/2021
While the use of innovative AML/CFT technologies can help identify risks and focus compliance efforts, manual review and human input remain “very important”.
Anti-Money Laundering
Japan to Form Cross-agency AML Team Following FATF Review
By Editors | 05/07/2021
A new team being formed under the Cabinet Secretariat may help overcome the current fragmented bureaucracy and enhance cross-agency coordination.
Anti-Money Laundering
Risk Assessments Should Focus on National Priorities: Wolfsberg Group
By Manesh Samtani | 04/07/2021
Most FIs focus their AML/CTF risk assessments on technical compliance rather than government priorities and effectiveness, the Wolfsberg Group says.
Anti-Money Laundering
Indonesia, Brunei to Cooperate on AML/CTF in Payments
By Editors | 03/07/2021
The MoU aims to strengthen policy cooperation on AML/CTF in payments. Indonesia is seeking to become a member of the FATF.
Anti-Money Laundering
FSC Korea Concerned of Embezzlement by Crypto Exchanges
By Editors | 02/07/2021
As the 24 September deadline for VASPs to register their businesses approaches, some businesses may close down, presenting risks to customer deposits.
Anti-Money Laundering
ECA Warns of Weaknesses in EU’s AML/CFT Regime
By Ranamita Chakraborty | 02/07/2021
AML/CFT efforts are hindered by institutional fragmentation and poor co-ordination at EU level, among other weaknesses.
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