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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
G7 Calls for Global Adoption of FATF Standards on VASPs
By Editors | 16/10/2020
Effective implementation of the FATF Standards, including the ‘travel rule’, is needed to combat a recent surge in ransomware attacks.
Anti-Money Laundering
AUSTRAC Decides Against Afterpay Regulatory Action
By Editors | 15/10/2020
Afterpay has uplifted its AML/CTF compliance framework and financial crime function, and completed all remediation necessary to ensure compliance.
Emerging Prudential Risks
G20 Ministers Extend DSSI Debt Relief, Welcome FSB, FATF Efforts
By Manesh Samtani | 14/10/2020
The G20 finance ministers and central bank governors have agreed to extend debt relief for low-income countries for six months, and welcomed efforts by the FSB and FATF.
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.
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