ADVERTISEMENT
Coverage of global AML regulations, compliance standards, enforcement actions, and innovations in detecting and preventing money laundering activities.
Anti-Money Laundering
Thailand Cabinet Approves Draft AML Regulations
By Editors | 08/10/2019
Under the rules, financial institutions will be required to obtain additional source of funds information from customers for cross-border transfers exceeding 50,000 baht.
Anti-Money Laundering
APG Publishes Final Mutual Evaluation Report for Taiwan
By Editors | 03/10/2019
Taiwan has achieved very significant progress in a short period of time, and supervisors have significantly influenced compliance in a positive way, the APG says in its mutual evaluation report.
Anti-Money Laundering
AUSTRAC Orders AML/CTF Audit at PayPal Australia
By Editors | 24/09/2019
AUSTRAC’s order follows a self-reported issue PayPal detected in its reporting system for international fund transfer instructions, which it said it was working to remediate.
Anti-Money Laundering
Taiwan Seeks Significantly Higher Penalties for Tax Evasion
By Editors | 24/09/2019
Reports indicate there is considerable support to raise the maximum fine for tax evasion from NT$60,000 to NT$100mn.
Anti-Money Laundering
SAFE Blacklists FX Firms As Illegal Capital Outflows Increase
By Editors | 19/09/2019
SAFE has asked financial institutions to monitor for leveraged forex trading and blacklisted 43 FX firms amid signs that illegal capital outflows have been increasing.
Anti-Money Laundering
Singapore Charges Second National for Terrorism Financing
By Editors | 19/09/2019
A Singapore national was charged for providing money for terrorist purposes after he sent about $830 to an individual overseas who was said to have been facilitating terrorist acts.
Fraud, Scams & Cybercrime
UPDATED – ASIC, Federal Police Dismantle Online Fraud Syndicate
By Editors | 18/09/2019
The syndicate is said to have used fraudulently-obtained identities to steal millions of dollars from the superannuation and share trading accounts of innocent victims.
Anti-Money Laundering
RBI Orders Banks to Review Controls on Internal Accounts
By Editors | 16/09/2019
Transitory accounts at bank branches are being used to provide unauthorised overdrafts to avoid default classification on loans, and to mask unexplained cash deposits.
Cloud & Infrastructure
Financial Institutions Must Adapt and Innovate or Be Left Behind
By Greg Watson | 13/09/2019
Outdated systems are preventing one in four Asia Pacific banks from investing in disruptive technologies, says Greg Watson, citing a recent Fenergo survey.
Anti-Money Laundering
AUSTRAC Order A$250,000 Fine Against Compass Global Holdings
By Editors | 11/09/2019
AUSTRAC says Compass Global Holdings failed to report international funds transfers between 2018 and 2019.
JOIN OUR NEWSLETTER
An exclusive weekly selection of top stories from the Regulation Asia editorial team.