Anti-Money Laundering

Anti-Money Laundering

OJK to Require P2P Lenders to Report Transactions From 1 April

By Editors | 23/02/2021

The move is aimed at preventing the P2P lenders from being used for money laundering and terrorism financing, said OJK Deputy Director Munawar.

Anti-Money Laundering

New Report Identifies 11 Indicators of Modern Slavery Risk

By Editors | 22/02/2021

Based on an analysis of globally prosecuted cases of modern slavery, FairSupply Analytics has identified 11 indicators to help FIs detect modern slavery.

Payments & Settlements

BIS, SWIFT Invite Firms to Participate in ISO 20022 Hackathon

By Editors | 21/02/2021

Participants will be asked to develop and showcase solutions that improve cross-border payments, using the ISO 20022 standard and APIs.

Fraud, Scams & Cybercrime

US Prosecutors Unveils New Charges Against North Korean Hackers

By Manesh Samtani | 21/02/2021

Warrants have been issued for the arrest of the three programmers said to be involved in the Sony, WannaCry, Bangladesh Bank and other attacks.

AI Risk & Governance

80pc of Central Banks Use Big Data to Support Policy Efforts

By Editors | 21/02/2021

Many central banks have undertaken initiatives to develop big data platforms to facilitate storage and processing of large data sets, but progress has varied.

Fraud, Scams & Cybercrime

HK Banks Used to Launder Over HK$8bn in Scam Proceeds in 2020

By Editors | 21/02/2021

More than 10,000 bank accounts are believed to have been used in 2020 to collect and launder the funds before being channelled out of Hong Kong.

Anti-Money Laundering

FSC Korea Proposes Additional Rule Changes for VASPs

By Editors | 18/02/2021

The changes add to revisions proposed in November to align requirements for VASPs with the FATF recommendations.

Anti-Money Laundering

BSP Adopts New AML/CFT Risk Assessment Framework

By Ranamita Chakraborty | 18/02/2021

The new framework will use a four-point rating scale to grade FIs based on their inherent risks, risk management capabilities and self-assessment systems.

Cryptocurrency

Hong Kong: GDF Warns Against Restricting Retail Investment in Crypto

By Manesh Samtani | 16/02/2021

The November FSTB proposal to only allow VASPs to offer services to professional investors could prompt retail investors to move to unlicensed platforms, GDF says.