ADVERTISEMENT
Coverage of global AML regulations, compliance standards, enforcement actions, and innovations in detecting and preventing money laundering activities.
Anti-Money Laundering
Taiwan to Ease AML Requirements for Low Risk Clients
By Editors | 03/01/2019
The majority of banks’ clients pose low money laundering risks, and should not be subject to the same level of scrutiny as high risk clients, said FSC chairman Wellington Koo.
Anti-Money Laundering
Human Trafficking and AML: 2019 Could Be a Turning Point for Asian Banks
By Nick Turner | 03/01/2019
Banks will need to adapt existing AML programmes to include new monitoring scenarios and train staff to recognise human trafficking red flags, says Nick Turner at Clifford Chance.
Anti-Money Laundering
JPMorgan Hong Kong Fined for Inadequate AML/CTF Controls
By Editors | 30/12/2018
An HKMA investigation found that JPMorgan Hong Kong failed to establish and maintain effective controls for handling wire transfers, conducting CDD and monitoring business relationships.
KYC & CDD
Taiwan FSC to Amend Rules on Beneficiary Disclosure
By Editors | 20/12/2018
Insufficient disclosures of corporate clients’ beneficiaries by financial institutions was cited as one of Taiwan’s shortcomings in the APG’s latest report.
Anti-Money Laundering
MAS Extends Prohibition Against Goldman’s Leissner to Lifetime Ban
By Editors | 20/12/2018
The March 2017 prohibition order barring former banker Tim Leissner for 10 years was based on limited information; US DOJ charges provided evidence of his involvement in 1MDB fund flows.
Anti-Money Laundering
Malaysia Files Criminal Charges Against Goldman Sachs over 1MDB
By Editors | 17/12/2018
Malaysian prosecutors have filed criminal charges against three Goldman subsidiaries and two former employees, seeking fines in the billions of dollars and jail terms of up to 10 years.
Anti-Money Laundering
AUSTRAC Publishes AML/CTF Guidance for Superannuation Sector
By Editors | 17/12/2018
While superannuation is not traditionally associated with financial crime exploitation, AUSTRAC’s risk assessment has rated the sector as medium risk.
PEPs & Sanctions
Hong Kong Asked to Bolster Sanctions Enforcement Amid Huawei Dispute
By Manesh Samtani | 11/12/2018
US officials have asked Hong Kong to bolster sanctions enforcement as Huawei’s deputy chairwoman stands accused of violating Iran sanctions through a Hong Kong shell company.
Cryptocurrency
Malaysia Clarifies Regulatory Treatment of Cryptocurrencies
By Editors | 07/12/2018
ICO issuers and digital asset exchanges will be regulated by the Securities Commission and subject to AML/CTF guidelines, as well as BNM laws and regulations relating to payments.
Anti-Money Laundering
G20 Nations Commit to Regulating Cryptocurrencies
By Editors | 06/12/2018
G20 nations have signed a joint declaration calling for regulation of crypto assets to combat money laundering and terrorist financing.
JOIN OUR NEWSLETTER
An exclusive weekly selection of top stories from the Regulation Asia editorial team.