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Coverage of global AML regulations, compliance standards, enforcement actions, and innovations in detecting and preventing money laundering activities.
KYC & CDD
RBI Probes KYC/AML Compliance at Payments Banks
By Editors | 06/08/2018
Paytm and Fino Payments Bank have been barred from accepting new clients due to the RBI’s concerns about their adherence to KYC/AML norms.
Anti-Money Laundering
S. Korea Announces Revised Tax Bill
By Editors | 06/08/2018
Bill expands crackdown on tax evasion, ends derivatives tax exemptions, disqualifies crypto exchanges as SMEs for tax reductions.
Anti-Money Laundering
FATF Publishes ‘Professional Money Laundering’ Report
By Manesh Samtani | 31/07/2018
FATF says many countries not sufficiently investigating, prosecuting professional money launderers who provide third-party laundering services for a fee, often acting in a professional capacity also serving legitimate clients.
Anti-Money Laundering
Crypto a Key Focus of FATF Report to G20
By Manesh Samtani | 26/07/2018
FATF is actively monitoring crypto assets for AML/CTF risks and is reviewing its guidance and standards to determine if changes are needed to reflect their technical aspects.
Anti-Money Laundering
Combating Financial Crime with Data Analytics – MAS
By Manesh Samtani | 24/07/2018
In the year ahead, the MAS will focus on the use of data analytics as well as boosting industry collaboration in its fight against money laundering and terrorism financing.
Cloud & Infrastructure
Japan FSA Reorganises to Meet Fintech Challenge
By Editors | 19/07/2018
Newly created Strategy Development and Management Bureau responsible for financial policy, fintech, cryptocurrencies, money laundering, as well as administraitive duties and inspections at financial institutions.
Cryptocurrency
Crypto Assets Come Under International Regulatory Scrutiny
By Garima Chitkara | 19/07/2018
The FSB submitted a report to the G20 detailing a framework to monitor potential contagion risks and wealth effects arising from crypto-assets.
Anti-Money Laundering
India Mulls Tracking for All Non-Cash Financial Transactions
By Garima Chitkara | 12/07/2018
India’s central bank is looking to create a repository of all non-cash financial transactions to widen the government’s crackdown on money laundering or shell company activities.
Cryptocurrency
Australian Tax Officials To Crack Down On Crypto Traders
By Garima Chitkara | 12/07/2018
The Australian Tax Office will use cross border data sharing agreements to track tax obligations of cryptocurrency traders, though tax implications from major gains will likely be confined to a few individuals.
Cryptocurrency
BSP Approves Two More Virtual Currency Exchanges
By Garima Chitkara | 12/07/2018
Virtual Currency Philippines and Etranss accredited by the BSP bringing the total number of virtual currency exchanges in the Philippines to five.
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