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Coverage of global AML regulations, compliance standards, enforcement actions, and innovations in detecting and preventing money laundering activities.
Cryptocurrency
Money 20/20: MAS Speaks Out on Crypto Risks, Blockchain
By Manesh Samtani | 17/03/2018
In a speech at Money 20/20 Asia, MAS managing director Ravi Menon spoke about the promise of blockchain technology and containing cryptocurrency risks; AML/CTF risks present a “clear and present danger”.
Anti-Money Laundering
SEBI Issues Clarifications on New Foreign Investor Norms
By Garima Chitkara | 15/03/2018
Foreign Portfolio Investors should not be Indian residents, non-resident Indians or overseas citizens of India; must be from AML/CTF compliant jurisdictions.
Anti-Money Laundering
Japan to Push G20 for Global AML Rules for Cryptcurrency
By Manesh Samtani | 14/03/2018
Japan to urge G20 leaders to close money laundering loopholes that exist due to weak regulation in some jurisdictions, without stifling innovation.
CBDCs
BIS, CPMI Report Outlines Dangers of Central Bank Digital Currencies
By Manesh Samtani | 14/03/2018
Central bank-issued digital currencies can enhance payments, settlement, efficiency; but financial stability implications warrant consideration.
Cryptocurrency
Thailand to Legalise Cryptocurrency by Royal Decree
By Manesh Samtani | 14/03/2018
Cryptocurrencies will be classified as assets and regulated by SEC; capital gains from trading to be taxed at 10 percent.
Anti-Money Laundering
SEBI Concerned About Money Laundering via PE, VC
By Garima Chitkara | 11/03/2018
Indian regulator says looser investment rules could encourage ‘round-tripping’ of funds by domestic investors, concerned about source of funds.
Cryptocurrency
Japan FSA Orders Business Improvement, Closures at Crypto Exchanges
By Manesh Samtani | 10/03/2018
Five exchanges including recently-hacked Coincheck ordered to improve internal controls; two exchanges ordered to halt services.
KYC & CDD
New Initiative to Help Boost Correspondent Banking Relationships
By Editors | 08/03/2018
Wolfsberg Group Questionnaire has potential to reduce costs associated with KYC application and streamline the establishment and maintenance of correspondent banking relationships.
Anti-Money Laundering
S. Korea Seeks Powers to Fine False-Name Bank Accounts
By Editors | 07/03/2018
Legislative reforms aimed at granting FSC powers to collect fines of over 50 percent of assets found in false-name bank accounts.
Anti-Money Laundering
CBA Defends Against Regulators’ Allegations
By Manesh Samtani | 01/03/2018
The bank says its employees did not adversely impact the BBSW as ASIC claims, denies AUSTRAC allegations of systemic AML noncompliance.
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