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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 President Calls for Rethink of Regulatory Culture
By Manesh Samtani | 09/04/2021
Dr Marcus Pleyer says supervisors and compliance officers in banks and companies mostly still take a basic tick-box approach.
Anti-Money Laundering
Sydney Court Jails Man for Cryptocurrency Money Laundering
By Sanday Chongo Kabange | 08/04/2021
The man used other people’s identities to set up accounts with a cryptocurrency provider, which he used to withdraw stolen bitcoin.
Supervision & Enforcement
Indian Court Lifts Freeze Order on ByteDance Bank Accounts
By Ranamita Chakraborty | 08/04/2021
ByteDance is required to deposit around $10.6mn in a state-run bank, the amount tax authorities claim the company owes.
Anti-Money Laundering
Philippines Expands AML Rules to Financing, Lending Firms
By Ranamita Chakraborty | 08/04/2021
All financing and lending companies are required to register with the AMLC, report suspicious transactions and comply with other AML/CTF rules.
Anti-Money Laundering
FinCEN Consults on Beneficial Ownership Reporting Requirement
By Editors | 08/04/2021
FinCEN is asking for written comments on the implementation of the beneficial ownership information reporting of the Corporate Transparency Act.
Anti-Money Laundering
Japan Crypto Industry to Adopt Travel Rule by April 2022
By Sanday Chongo Kabange | 07/04/2021
The FSA has written to the JVCEA advising it to start preparing for the implementation of the travel rule in Japan’s crypto industry.
Anti-Money Laundering
Australia Lags Regional Peers on DNFBP Regulation: Report
By Manesh Samtani | 03/04/2021
Australia is sending a message to financial criminals around the world that its lawyers, accountants and property market are open for business.
KYC & CDD
Hong Kong to Allow Companies to Conceal Director Identities
By Manesh Samtani | 03/04/2021
The proposal will hamper the ability of investors, banks, property agents, researchers and journalists to carry out due diligence on transactions and counterparties.
KYC & CDD
China Issues Draft Rules on Beneficial Ownership Identification
By Editors | 03/04/2021
FIs will be required to verify the identities of all ultimate beneficial owners of accounts opened and maintained for all customers.
Fraud, Scams & Cybercrime
SG Police Investigate Over 300 Individuals in Cases of Scams
By Editors | 31/03/2021
The suspects are being investigated for the offences of cheating, money laundering or providing payment services without a licence.
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