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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
CBIRC Tightens Scrutiny of AML/CTF Programmes at Banks, Insurers
By Editors | 06/01/2020
Banks and insurers are required to submit annual reports on their AML/CTF programmes within 20 working days after the end of each year. For 2019, the reports should be submitted by 15 February 2020.
Anti-Money Laundering
Malaysia Replaces AML/CFT Framework with Two Policy Documents
By Manesh Samtani | 03/01/2020
The first document is for banks, insurers, money services businesses and payments providers. The second is for NBFIs and DNFBPs, including lawyers, accountants, casinos, real estate agents and trust companies.
Anti-Money Laundering
MAS Adopts FATF Standards on VASPs in Payment Services Act
By Manesh Samtani | 28/12/2019
MAS has proposed amendments will align the Payment Services Act with the most recent enhancements to the FATF Standards in relation to virtual asset service providers.
Anti-Money Laundering
APAC Wealth Migration Trends Heighten Financial Crime Risk
By Joseph Quiazon | 28/12/2019
APAC regulators are looking to FIs and their technology to guard against increasingly sophisticated criminal activity as wealth migration accelerates, says Joseph Quiazon at Exiger.
Anti-Money Laundering
HKMA Publishes Highlights from First AML/CFT RegTech Forum
By Manesh Samtani | 27/12/2019
Access to quality data and a more proactive knowledge sharing approach are critical to moving to intelligence-led methods in financial crime risk management.
Anti-Money Laundering
Taiwan FSC Outlines Bank Examination Priorities for 2020
By Editors | 26/12/2019
The FSC’s Financial Examination Bureau will reportedly focus on compliance with rules on AML, corporate governance, information security, consumer protection and personal data protection.
Anti-Money Laundering
Wolfsberg Group Urges ‘Effectiveness’ Emphasis in AML/CTF Programmes
By Editors | 23/12/2019
FIs are devoting resources to maximise technical compliance, while not necessarily optimising detection or deterrence of illicit activity, the Wolfsberg Group says.
Anti-Money Laundering
Westpac Faces Shareholder Class Action for Possible Disclosure Failures
By Editors | 23/12/2019
The class action, filed by law firm Phi Finney McDonald, will rest on whether Westpac breached disclosure obligations or misled investors about the extent of its AML compliance failures.
Anti-Money Laundering
Regulation Asia: Top Ten News Stories for 2019
By Editors | 20/12/2019
This list presents the most-read new stories published by Regulation Asia in 2019, based on aggregated user traffic analytics.
Anti-Money Laundering
Regulation Asia: Top Ten Contributed Articles for 2019
By Editors | 20/12/2019
This list presents the most-read contributed articles published by Regulation Asia in 2019, based on aggregated user traffic analytics.
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