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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
AUSTRAC Issues Guidance on Filing More Effective SMRs
By Editors | 02/05/2021
The new resources include a reference guide and checklist, and feature guidance on how to write succinct, accurate and clear grounds for suspicion.
Anti-Money Laundering
FATF Publishes New Zealand Mutual Evaluation Report
By Manesh Samtani | 30/04/2021
Of the 40 recommendations, New Zealand is ‘Compliant’ on 8, ‘Largely Compliant’ on 20, and ‘Partially Compliant’ on 12.
Anti-Money Laundering
Australia Scraps Plan to Introduce Beneficial Ownership Register
By Ranamita Chakraborty | 30/04/2021
Senator Jane Hume reportedly refused to back the register, a move experts say will entrench Australia as a money laundering haven.
CBDCs
Macau Amends Legal Framework to Enable Digital Yuan Adoption
By Sanday Chongo Kabange | 27/04/2021
Use of the fully traceable digital yuan will help Chinese authorities curb money laundering and illicit cross-border gambling.
Anti-Money Laundering
Mitigating Illicit Convergence in Transnational Financial Crime
By Editors | 27/04/2021
Rani Hong, Sasha Lezhnev, Ben Spevack and Che Sidanius discuss efforts under way to prevent the illicit exploitation of legal infrastructures for crime.
Anti-Money Laundering
HKMA Offers Guidance on Combatting Covid-19 Related Fraud, AML
By Manesh Samtani | 26/04/2021
The guidance emphasises the use of data from internal and external sources, proactive data analysis and information sharing to tackle emerging AML risks.
Anti-Money Laundering
Hong Kong: Six Arrested for Laundering HK$2.5bn
By Sanday Chongo Kabange | 26/04/2021
The six arrested persons opened 60 personal accounts at various banks and made over 2,600 suspicious transactions.
Cryptocurrency
US House Passes Bill to Foster Innovation in Digital Assets
By Editors | 25/04/2021
The bill will require the SEC and CFTC to establish a digital asset working group to ensure collaboration between regulators and the private sector on digital assets.
Anti-Money Laundering
BSP Renews Push for Changes to Bank Secrecy Law
By Editors | 23/04/2021
BSP Governor Benjamin Diokno expects a pending bill to be acted upon by Congress as early as May.
Fraud, Scams & Cybercrime
SFC Imposes Lifetime Ban on Co-CEOs of IDS Forex Ltd
By Editors | 23/04/2021
The co-CEOs knew of their chairman’s arrest and conviction in Korea for fraud but did not report the events to the SFC.
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