Anti-Money Laundering

Anti-Money Laundering

SFC AML/CFT Guideline Revisions to Take Effect in November

By Editors | 15/10/2018

A July consultation proposed amendments to improve the Guideline’s usefulness and relevance and ensure its alignment with international AML/CFT standards.

Anti-Money Laundering

Europe’s AMLD5 and its Impact on AML Regulations in Asia

By Claus Christensen | 15/10/2018

While AMLD5 confirms the EU’s leadership role in AML legislation, similar efforts have been seen in Asia, says Claus Christensen at Know Your Customer Ltd.

Anti-Money Laundering

China Issues AML/CTF Rules for Online Financial Institutions

By Editors | 12/10/2018

Online FIs required to verify client identities, monitor terrorist organisations and activities, properly store client information and transaction records, and report large-value and suspicious transactions.

Anti-Money Laundering

Taiwan FSC to Probe Recent Fee Hikes at Banks

By Editors | 12/10/2018

Seven state-banks have raised fees for foreign remittances, saying the extra charges are needed to offset costs associated with upgrades to money laundering controls.

Anti-Money Laundering

Technology, Multi-Agency Cooperation in Focus at HKMA

By Manesh Samtani | 11/10/2018

At the Refinitiv Pan Asian Regulatory Summit, HKMA’s Carmen Chu discussed how technology and cooperation with authorities contributes to a safe and clean financial centre.

Cryptocurrency

MAS to Help Crypto Firms Access Banking Services – Report

By Manesh Samtani | 11/10/2018

Ravi Menon told Bloomberg that MAS is trying to bring banks and crypto startups together to see if an understanding can be reached.

Anti-Money Laundering

Japan FSA Prioritises AML Measures Ahead of FATF Peer Review

By Editors | 01/10/2018

The FSA will conduct on-site inspections at financial institutions over the next 12 months, hoping to clean up its image with the FATF before it hosts the G20 summit next year.

Supervision & Enforcement

AUSTRAC Strengthens Cooperation with FinCEN

By Garima Chitkara | 28/09/2018

Agencies in both countries will share information on terrorist financing and serious financial crime under a regulatory MoU.

AI Risk & Governance

HKMA Outlines Regtech Initiatives – Speech

By Manesh Samtani | 28/09/2018

The HKMA is looking to build a more diversified regtech ecosystem in Hong Kong and urges for greater collaboration between the banking industry and technology community.