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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
ASIC Ends Years-old Probe into CBA’s AML Breaches
By Editors | 26/08/2020
ASIC will not be pursuing further enforcement action against Commonwealth Bank for the AML breaches that in 2018 resulted in a A$700mn settlement with AUSTRAC.
AI Risk & Governance
Hong Kong AoF Publishes Report on AI Adoption in Banking
By Editors | 23/08/2020
The report provides insights about the risk management frameworks and overarching supervisory principles banks use when adopting artificial intelligence.
PEPs & Sanctions
Pakistan Issues Consolidated List of Sanctioned Individuals, Entities
By Editors | 23/08/2020
The Ministry of Foreign Affairs says various sanctions were already in place against almost all of the individuals and entities listed by the United Nations Security Council.
Anti-Money Laundering
APAC Regulators Issue Nearly $4bn in AML Fines in H1 2020
By Editors | 19/08/2020
Fraudulent activity brought on by Covid-19 related initiatives may result in enforcement actions later in the year and into 2021, says Fenergo’s Rachel Woolley.
PEPs & Sanctions
PEPs in the Limelight: Three Components to Mitigate Risk
By Editors | 19/08/2020
To understand the money laundering risks they face, financial firms need a robust and scalable approach to PEP identification and due diligence, says Refinitiv’s Michael Meadon.
Anti-Money Laundering
FFIS Charts Growth of Public-Private Partnerships in New Report
By Manesh Samtani | 19/08/2020
Public-private financial information sharing partnerships enhance the quality of regulatory reporting and improve law enforcement outcomes.
Anti-Money Laundering
WWF, ACAMS Launch New Initiative Targeting Illegal Wildlife Trade
By Editors | 18/08/2020
The partnership seeks to bridge gaps in the financial systems that criminals exploit to move, hide and launder the proceeds of the illegal trade in wildlife.
Anti-Money Laundering
Risk and Reward: AI Enables Active Financial Crime Risk Assessment
By Daniel Banes | 18/08/2020
Adverse media is openly available, continually updated, and provides a wealth of information, but it remains underused in financial crime risk assessments, writes Daniel Banes.
Anti-Money Laundering
Pakistan Legislature Progresses Five FATF-related Bills
By Editors | 18/08/2020
Pakistan has taken another step towards its removal from the FATF grey list with the passage of five new bills in the National Assembly.
Anti-Money Laundering
Singapore Crypto Association Publishes Industry Code of Practice
By Editors | 17/08/2020
The code is accompanied by a practice guide providing regulatory guidance to facilitate payment services licence applications in Singapore.
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