Anti-Money Laundering

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.

Anti-Money Laundering

Why Hong Kong’s New Trust Rules Won’t Boost AML/CTF Efforts

By Bradley Maclean | 01/03/2018

Rather than comply with new rules on beneficial owner registration and due diligence, many trusts are likely to simply leave Hong Kong for less onerous jurisdictions.

Anti-Money Laundering

Malaysia Issues AML/CTF Policy for Cryptocurrency Exchanges

By Manesh Samtani | 01/03/2018

Cryptocurrency exchanges are required to fully identify all customers and monitor for money laundering and terrorist financing activities.