ADVERTISEMENT
Coverage of global AML regulations, compliance standards, enforcement actions, and innovations in detecting and preventing money laundering activities.
Anti-Money Laundering
Wolfsberg Group Publishes Guidance on Customer Tax Evasion
By Editors | 15/05/2019
Financial institutions should be able to leverage existing financial crime compliance, conduct and tax (including tax transparency regimes) procedures and controls, to address the risks of customer tax evasion.
Anti-Money Laundering
New Zealand FMA Issues AML/CFT Warnings to 10 Reporting Entities
By Editors | 14/05/2019
The warnings relate to failures by the firms to comply with requirements to have their risk assessments and AML/CFT programmes audited every two years.
KYC & CDD
Chinese Banks Instructed to Further Limit Foreign Currency Withdrawals
By Editors | 07/05/2019
Chinese banks have reduced the amount of US dollars customers can withdraw and are required to keep a watch list of clients who make frequent foreign currency withdrawals.
Anti-Money Laundering
Malaysia Extradites Former Goldman Banker to US
By Editors | 07/05/2019
Extradited from Malaysia, the former Goldman Sachs banker Roger Ng has pleaded not guilty to 1MDB-related charges in the US, and has been released under house arrest.
Anti-Money Laundering
Philippine FIU Seeks an End to Bank Secrecy Law
By Editors | 07/05/2019
The AML Council is seeking additional powers to combat financial crime, including the lifting of the bank secrecy law, which would allow it to check all accounts regardless of transaction thresholds.
PEPs & Sanctions
US Judge Subpoenas Chinese Banks in Sanctions Probe – Report
By Editors | 07/05/2019
A US federal judge has ordered three Chinese banks to provide documents in relation to a Hong Kong company which allegedly helped North Korea evade international sanctions.
Cloud & Infrastructure
Technology Driven Changes Afoot in the Australian Banking Sector
By Garima Chitkara | 07/05/2019
Open banking, digital banking, cloud-based infrastructure and RegTech are the key drivers of technology-led change in the Australian banking sector, according to S&P Global Ratings.
Anti-Money Laundering
Japan to Halt Overseas Transfers that Bypass Bank Accounts
By Editors | 06/05/2019
In preparation for this year’s FATF review, Japanese banks will reportedly terminate counter services for overseas remittances that bypass bank accounts.
Anti-Money Laundering
MAS Consults on Proposed Framework for Variable Capital Companies
By Editors | 02/05/2019
The proposals include an AML/CFT framework for VCCs requiring them to engage an eligible financial institution to perform the necessary checks.
Anti-Money Laundering
Wolfsberg Group Endorses APAC Toolkit for Tackling Human Trafficking
By Editors | 26/04/2019
The Wolfsberg Group has endorsed the latest Anti Human Trafficking Toolkit from the Thomson Reuters Foundation, tailored for use in Asia Pacific by banks and financial institutions.
JOIN OUR NEWSLETTER
An exclusive weekly selection of top stories from the Regulation Asia editorial team.