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Coverage of global AML regulations, compliance standards, enforcement actions, and innovations in detecting and preventing money laundering activities.
KYC & CDD
Bangladesh ACC Calls For Tighter KYC Rules for NBFIs
By Sanday Chongo Kabange | 14/10/2020
The Anti-Corruption Commission says some NBFIs and cooperative societies are not collecting detailed customer information through their KYC processes.
Anti-Money Laundering
US Justice Dept Publishes Cryptocurrency Enforcement Framework
By Editors | 13/10/2020
The framework provides a detailed threat overview, cataloging the three categories into which most illicit uses of cryptocurrency typically fall.
Anti-Money Laundering
RegTech Asia 2020: The Evolution of Typologies
By Editors | 12/10/2020
How have financial crime typologies been evolving in recent years, and how are they being used by financial institutions to combat crime?
Anti-Money Laundering
RegTech Asia 2020: The Future of AML & Fraud Case Management
By Editors | 11/10/2020
How can current practices in AML and fraud case management and investigations be enhanced with technology and data for better, faster outcomes?
Anti-Money Laundering
AUSTRAC Publishes Financial Crime Guide on Illegal Wildlife Trade
By Manesh Samtani | 11/10/2020
The guide offers indicators FIs can use in profiling and transaction monitoring to target, identify and stop financial transactions associated with illegal wildlife trafficking.
Fraud, Scams & Cybercrime
UOB Credited for Helping Recover Stolen Funds
By Editors | 08/10/2020
Collaboration with UOB attests to the importance of a strong partnership with community stakeholders to effectively combat scams and transnational fraud, the Police said.
Operational Risk
Fed Orders Citigroup to Correct “Longstanding Deficiencies”
By Editors | 08/10/2020
The Fed has ordered Citigroup to remediated enterprise-wide risk management and controls deficiencies. The OCC has penalised Citibank $400mn for the same deficiencies.
Anti-Money Laundering
RegTech Asia 2020: Enhancing Transaction Monitoring
By Editors | 07/10/2020
How is the financial industry using AI/machine learning and data analytics to enhance typically rule-based transaction monitoring systems?
Cloud & Infrastructure
RegTech Asia 2020: RegTech Lessons from Digital Banks
By Editors | 06/10/2020
What were some of the challenges of rolling out virtual banks in Hong Kong, and what were the biggest factors in technology and regulatory compliance considerations?
PEPs & Sanctions
Ransomware Payments May Breach OFAC Regulations
By Sanday Chongo Kabange | 03/10/2020
OFAC makes clear in a new advisory that it may impose civil penalties if ransomware payments are made to sanctioned individuals or entities.
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