Anti-Money Laundering

Cryptocurrency

Cryptocurrency – You Can’t Kill an Idea

By Peter Guy | 05/02/2018

Once in a while capitalism must be rescued from the excesses of bankers and central banks. Governments can’t kill ideas, but it takes them a long time for them to concede or adapt.

Anti-Money Laundering

Interpol to Increase Measures on Cryptocurrencies AML, CTF Risk

By Samuel Riding | 01/02/2018

Global police organisation says to increase information sharing, review AML/CTF rules pertaining to digital currencies, take action against cryptocurrency ‘tumblers’.

Anti-Money Laundering

S. Korea Probes Illegal Forex Transactions Using Cryptocurrency

By Manesh Samtani | 01/02/2018

Korea Customs Service alleges KRW637.5 bn of foreign exchange crimes, including the use of cryptocurrency to conduct forex transactions, foreign remittances, illegal smuggling.

Cryptocurrency

South Korea Pursues Global Cooperation on Crypto Regulation

By Manesh Samtani | 31/01/2018

Ministry of Strategy and Finance officials have been sent to Japan to discuss oversight and taxation issues, with plans to also visit US, UK, German authorities.

Supervision & Enforcement

China Tightens Outbound Investment Rules Despite Decline in 2017

By Editors | 29/01/2018

Temporary rules require more detailed filings on investment plans; enforcement to focus on deals worth $300mn or more or to sensitive countries, regions and industries.

KYC & CDD

Crypto Exchanges Back on Track in S.Korea with New Account Guidelines

By Manesh Samtani | 25/01/2018

Guidelines cover dealings with exchanges, preventing money-laundering, aiding taxation; exchanges to be fined for privacy issues; payments to overseas exchanges blocked.

Anti-Money Laundering

Real Estate and Trade Finance – The New AML Battlegrounds

By Samuel Riding | 25/01/2018

After years of scrutiny of banking relationships, regulators are now turning their attention to other stores of value, according to Accuity CEO Hugh Jones.

Anti-Money Laundering

AML Now a Top Concern for Chinese Regulators, and a Worry for Banks

By Yaqi Bao | 24/01/2018

It is clearer than ever that Chinese regulators take AML as a major priority, but domestic banks can lack the expertise to meet ever-increasing requirements.

Cryptocurrency

Banks, Payments Providers Ordered to Halt Services for Crypto Traders

By Manesh Samtani | 23/01/2018

China’s central bank has ordered banks and payment providers to boost investigation and monitoring to detect and shut down accounts linked to cryptocurrency trading.