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Coverage of global AML regulations, compliance standards, enforcement actions, and innovations in detecting and preventing money laundering activities.
Anti-Money Laundering
HKMA Fines State Bank of India for Breach of AML/CTF Rules
By Editors | 03/08/2015
SBI’s Hong Kong branch fined HK$7.5 million for breaching anti money-laundering and counter terrorism financing rules.
Anti-Money Laundering
Evolving AML and KYC Standards – Now an Integral Part of Financial Institutions
By Editors | 31/07/2015
Increasingly complex and co-dependent regulations and tax policies are changing the process of onboarding and monitoring clients and counterparties.
Anti-Money Laundering
How the Fifa Case is Affecting AML and KYC Procedures
By Peter Guy | 28/07/2015
It is unusual that Fifa was able conduct business for so long despite sensational allegations by the media. Compliance teams need to rethink their standards.
Anti-Money Laundering
U.S. Orders Major China Bank to Enhance Anti-Money Laundering Controls
By Editors | 23/07/2015
The Federal Reserve Board has announced an enforcement action against one of the biggest banks in China, ordering it to restructure its anti-money laundering compliance program.
KYC & CDD
Vietnamese Bank Joins SWIFT’s KYC Registry
By Editors | 21/07/2015
SWIFT has announced that Vietnam Bank for Agriculture and Rural Development has joined the Know Your Customer Registry.
Anti-Money Laundering
Singapore Regulator Reiterates Commitment Against Money Laundering and Terrorism Financing
By Editors | 20/07/2015
The Monetary Authority of Singapore has outlined Singapore’s anti-money laundering regime, reiterating its commitment to safeguarding its financial system.
Anti-Money Laundering
Australia and Bangladesh Sign Information Exchange Deal
By Editors | 17/07/2015
Australia has signed a memorandum of understanding with Bangladesh establishing a framework for the exchange of financial intelligence related to money laundering and terrorism financing and other serious offences.
Anti-Money Laundering
Philippines and United States Sign FATCA Agreement
By Editors | 17/07/2015
The Philippines has signed a reciprocal intergovernmental agreement with the United States to implement provisions of the Foreign Account Tax Compliance Act (FATCA).
KYC & CDD
India Banks to Use Credit Bureaus for KYC Checks
By Editors | 14/07/2015
Indian Banks have started to use credit bureaus to perform identity and background checks as part of their KYC procedures.
Anti-Money Laundering
Vietnam Targets International Risk Management Standards for Banks
By Editors | 12/07/2015
Vietnam’s banking sector is looking to meet standards for operational risk management and anti-money laundering in line with international practices.
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