Anti-Money Laundering

Cryptocurrency

Bitcoin Forum Reveals PBOC Rectification Order

By Samuel Riding | 26/04/2017

Exchanges told to adhere to regulations on securities, futures and forex; tighten AML controls.

Anti-Money Laundering

MAS, Singapore Police Set up AML/CTF Partnership

By Samuel Riding | 25/04/2017

Group including 8 Singapore banks will ‘enhance detection and mitigation of transnational risks’.

Cryptocurrency

India Eyes Virtual Currency Regulation

By Samuel Riding | 13/04/2017

Committee launched 2 months after central bank reminder that all VC platforms are unlicensed.

PEPs & Sanctions

HKMA Ticks off, Fines Coutts for AML Failings

By Samuel Riding | 12/04/2017

Firm said to have inadequate PEP identification procedures for more than three years.

Fraud, Scams & Cybercrime

Indian Banks Seek Forensic Auditors Amid Fraud Fears

By Samuel Riding | 12/04/2017

Association says auditors should have at least 10 years experience for the largest suspected frauds.

Cybersecurity

BSP to Mandate Multi-factor Authentication

By Samuel Riding | 10/04/2017

Measures are a reaction to rising threat of cybercrime.

Anti-Money Laundering

US Extra-territorial Enforcement is Here to Stay

By JP Reimann | 06/04/2017

Compliance with US overseas enforcement actions is unlikely to change in Asia despite the dilemma it raises for the region’s banks.

Structural Regulation

HK Counts Down to MiC Regime

By Samuel Riding | 06/04/2017

SFC publishes revised reporting forms for licensed corporations just over two weeks from start of new regime.

Emerging Prudential Risks

Updated – MAS Raises Spectre of Algo ‘Contagion’

By Samuel Riding | 21/03/2017

Singapore regulator using clustering, network analysis; to set up supervisory technology unit.