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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
Philippine SEC Tightens Rules on Beneficial Ownership of Shares
By Ranamita Chakraborty | 09/02/2021
New guidelines will require the disclosure of the identity of the beneficial owners of shares and prohibit the issuance of bearer shares.
Structural Regulation
Greater Bay Regulators Sign MoU on Wealth Management Connect
By Manesh Samtani | 07/02/2021
The regulators agree to issue guidance to banks on product due diligence, investor protection, AML/CFT requirements and personal data protection, among other areas.
Anti-Money Laundering
PBOC, SAFE Issue AML Guidelines for Cross-border Business
By Editors | 06/02/2021
The guidelines apply to cross-border activities using domestic or foreign currencies, as well as domestic activities using foreign currencies.
Anti-Money Laundering
CBIRC Probes Banks for Illegal Flows of Loan Funds into Real Estate
By Editors | 04/02/2021
The CBIRC’s Beijing and Shanghai bureaus have asked banks to review loans granted since mid-2020 to identify illegal inflows of credit funds into the real estate sector.
Anti-Money Laundering
Philippines Enacts AML Amendments to Avoid FATF Grey List
By Ranamita Chakraborty | 04/02/2021
Offshore gaming operators, their service providers, real estate developers and brokers have been brought into scope as covered entities.
Anti-Money Laundering
China: HNA Group Declares Bankruptcy, Reveals Embezzlement
By Editors | 03/02/2021
HNA Group has entered bankruptcy on the demand of creditors including Ping An Bank, Bank of Hainan, and Chang’an Bank.
Custody & Infrastructure
Thailand to Introduce Rules for Digital Asset Wallet Providers
By Editors | 02/02/2021
The SEC is concerned that digital asset wallets and custodian services could be used for drug offences and money laundering.
KYC & CDD
How Financial Institutions View Digital Identity: Survey
By Editors | 01/02/2021
RUSI and ACAMS have launched a new survey seeking to better understand the potential for digital ID to aid in the fight against financial crime.
Custody & Infrastructure
BSP Updates VASP Rules to Align with FATF Requirements
By Editors | 28/01/2021
The updated rules also bring into scope virtual asset custodians, introducing a $1mn minimum capital requirement for such businesses.
Anti-Money Laundering
AUSTRAC Consults on AML/CTF Rules for Phase 1.5 Reforms
By Editors | 28/01/2021
The amendments will update rules on correspondent banking and customer due diligence to reflect legislative changes passed in December.
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