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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
Hong Kong to Align Crypto Regulatory Framework with FATF Standards
By Manesh Samtani | 03/11/2020
The government proposes to introduce a new licensing regime for VASPs that trade non-security tokens, and a registration regime for dealers in precious metals and stones.
Anti-Money Laundering
Singapore Bill to Align Payment Services Act with FATF Standards
By Editors | 03/11/2020
The bill will expand the definition of a DPT service, broaden the definition of cross-border money transfer service, and allow MAS to impose measures on DPT services providers.
Fraud, Scams & Cybercrime
MAS Bans Two Former Bankers for Fraud, Dishonest Conduct
By Editors | 01/11/2020
The former OCBC treasury advisor placed unauthorised FX trades in client accounts, while the former UOB relationship manager made unauthorised bank transfers.
Anti-Money Laundering
Financial Crime Country Lists in a Fragmenting World Order
By Tom Keatinge | 30/10/2020
Those that promote lists of countries that are slow to tackle financial crime must work harder to exclude politics and prove their integrity and value, says RUSI’s Tom Keatinge.
Anti-Money Laundering
PBOC Issues Draft AML Rules for Beijing Real Estate Sector
By Editors | 27/10/2020
The guidelines impose obligations on developers and intermediaries to strengthen AML supervision and management in real estate transactions.
Anti-Money Laundering
China Issues AML/CTF Guidelines for Microfinance Institutions
By Editors | 27/10/2020
The guidelines take immediate effect and are require microfinance institutions to report any transaction worth more than CNY 50,000 within 5 working days.
Anti-Money Laundering
US Agencies Target Cross-border Transfers in Proposed Rule Change
By Editors | 26/10/2020
Financial institutions will have to collect, retain, and transmit information related to any international transaction over $250, including those involving crypto assets.
Anti-Money Laundering
FATF to Drive Digital Transformation of AML/CFT Systems
By Manesh Samtani | 26/10/2020
Digital transformation of AML/CFT systems will help to ensure their resilience in future and build their efficiency, the FATF says.
Fraud, Scams & Cybercrime
Australian Police Arrest NAB Employee on Fraud Charges
By Editors | 25/10/2020
The former employee faces charges for conspiring to cheat and defraud and attempting to launder A$21.6mn in illicit proceeds through NAB.
PEPs & Sanctions
FATF Adopts Measures to Mitigate Proliferation Financing Risk
By Editors | 25/10/2020
The changes are aimed at ensuring FIs and DNFBPs do not unwittingly support or become part of proliferation financing networks or schemes.
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