Anti-Money Laundering

Anti-Money Laundering

Malaysia Receives FATF Praise for AML/CTF Efforts

By Editors | 21/09/2015

The Financial Action Task Force has issued a report praising Malaysia’s legal framework for anti-money laundering and counter-terrorist financing standards.

Anti-Money Laundering

China Cracks Down on ‘Suspicious’ Forex Transactions

By Editors | 10/09/2015

The State Administration of Foreign Exchange has asked banks to manage forex transactions to identify suspicious cross-border fund transfers in a bid to ease pressure on capital outflows.

Anti-Money Laundering

Indonesia to Adopt Global Standard for Tax Information Exchange

By Editors | 09/09/2015

Indonesia’s government is looking to adopt global standards for the automatic exchange of financial information in 2017, in a bid to address tax revenue issues.

Anti-Money Laundering

China Clamps Down on Yuan Forward Contracts

By Editors | 04/09/2015

PBOC announces new measures making it more costly to use forwards contracts to bet on yuan weakness.

Anti-Money Laundering

India Brings in FATCA, Scraps MAT

By Samuel Riding | 27/08/2015

Domestic tax rules changed to account for US legislation; minimum alternate tax exemption backdated to 2001.

Anti-Money Laundering

China Cracks Down on Illegal Overseas Funds Transfers

By Editors | 27/08/2015

Chinese police have launched a nationwide campaign against underground banks to curb money laundering and illegal funds transfers that occur outside approved banking channels.

Payments & Settlements

PBOC Should Rein in Online Payment Providers

By Editors | 23/08/2015

China government researchers are advising the central bank to rein in the growth of third-party payment providers by increasing entry thresholds and encouraging existing firms to merge.

Anti-Money Laundering

India Seeks Transparency from Offshore Wealth Managers

By Editors | 10/08/2015

The Securities and Exchange Board of India has asked international wealth managers to register their offshore units with the regulator if they are soliciting business in India.

Cryptocurrency

Japan to Introduce Registration System for Virtual Currency Exchange Operators

By Editors | 07/08/2015

Japan’s Financial Services Agency is considering introducing regulations for trading bitcoins and other virtual currencies, possibly through a registration system for operators.