Anti-Money Laundering

    Coverage of global AML regulations, compliance standards, enforcement actions, and innovations in detecting and preventing money laundering activities.

    Anti-Money Laundering

    Malaysia Mulls Cash Transaction Limit as AML Measure

    By Editors | 01/04/2019

    Bank Negara Malaysia will conduct a public consultation by Q3 to gather feedback on the implementation of a cash transaction limit, what it should be, and whether it is even desirable.

    Supervision & Enforcement

    MAS Details Enforcement Outcomes, Priorities in Inaugural Report

    By Manesh Samtani | 20/03/2019

    The inaugural enforcement report reveals that MAS issued S$16.8mn in financial penalties and S$698,000 in civil penalties over 18 months.

    Credit Risk

    RBI Asks Banks to Boost Monitoring of End Use of Loan Funds

    By Editors | 20/03/2019

    Following a string of penalties against banks last month, the RBI has asked banks to improve their monitoring of the origin and end use of loan funds.

    Anti-Money Laundering

    Securities Commission Malaysia Issues Show-cause Notice to Goldman

    By Editors | 15/03/2019

    Malaysia’s securities regulator has reportedly issued a show-cause notice to Goldman Sachs, assumed to be in connection with the multi-billion dollar 1MDB scandal.

    Cloud & Infrastructure

    APRA, AUSTRAC to Engage Regtechs on Solution Development

    By Editors | 08/03/2019

    APRA and AUSTRAC plan to directly engage and share information with regtech firms to aid in their development of solutions that can help regulated entities comply with reporting obligations.

    Anti-Money Laundering

    FATF Gets Tough on Virtual Assets and Their Service Providers

    By ComplyAdvantage | 27/02/2019

    If the FATF Interpretive Note is adopted, virtual assets and their service providers could fall under the same level of regulatory scrutiny as seen in traditional banking, says ComplyAdvantage.

    Anti-Money Laundering

    FATF Consults on Risk-Based Approach for Professional Services

    By Editors | 27/02/2019

    The FATF is consulting on draft guidance on the application of a risk-based approach to AML/CFT in the legal, accountancy, and trust and company service providers sectors.

    Anti-Money Laundering

    FATF Commends China, Sri Lanka; Watchlists Cambodia

    By Manesh Samtani | 26/02/2019

    The Financial Action Task Force has marked the end of its fourth round of mutual evaluations with an announcement of its latest plenary session last week.

    Anti-Money Laundering

    AUSTRAC Trials Reporting Automation through Smart Contracts

    By Editors | 26/02/2019

    The proof of concept project commenced in December 2018 and aims to help reporting entities automate the reporting of international funds transfers to AUSTRAC.

    Anti-Money Laundering

    China Strengthens AML/CFT Regime with New Guidance

    By Editors | 22/02/2019

    CBIRC has released guidance to help financial institutions improve AML/CFT controls, on the heels of recent news that PBOC is scrapping its approval process for corporate accounts.

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