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Coverage of global AML regulations, compliance standards, enforcement actions, and innovations in detecting and preventing money laundering activities.
KYC & CDD
Indian Regulator Issues Guidelines on Assessing Depository Participants
By Editors | 11/02/2014
The Securities and Exchange Board of India has called on depositories to keep a close watch on client information and their risk ratings as part of efforts to strengthen the securities market.
Cryptocurrency
Bitcoin – Risk, Reward and China
By Editors | 27/01/2014
Henry Balani discusses the move by the Chinese Regulators on Bitcoin and the impact of the virtual currency on transaction banking.
Supervision & Enforcement
IOSCO Gains 100th MMoU Signatory in Fight Against Financial Misconduct
By Editors | 26/01/2014
The Indonesian Financial Services Authority has become the 100th signatory to the IOSCO Multilateral Memorandum of Understanding (MMoU) on cooperation and exchange of information.
Anti-Money Laundering
India Pulls Out Old Currency Notes, Curbs ‘Black Money’
By Editors | 24/01/2014
The Reserve Bank said it will withdraw all currency notes issued prior to 2005 from March 31, in an apparent move aimed at curbing black money and fake currencies.
Anti-Money Laundering
US May Delay FATCA Implementation
By Editors | 22/01/2014
The Foreign Account Tax Compliance Act (FATCA) may be delayed again by another six months due to pending intergovernmental agreements between the U.S. and other countries.
Anti-Money Laundering
Judge Upholds Rule for US Banks to Report to Foreign Countries Under FATCA
By Editors | 20/01/2014
A federal court rules that U.S. banks must report to foreign governments on the holdings of citizens in line with FACTA.
PEPs & Sanctions
China Toughens Rules on Freezing Terrorists Assets, Urges Banks to Report Suspicions
By Editors | 17/01/2014
China issues new rules to fight terrorism, requiring banks to report transactions suspected of links to terror activities and freeze assets of people named as belonging to terrorist groups.
Anti-Money Laundering
Basel Committee Issues Anti-Money Laundering Risk Guidelines
By Editors | 16/01/2014
Prudent management of these risks together with effective supervisory oversight is critical in protecting the safety and soundness of banks.
Anti-Money Laundering
HKMA Cautions Authorised Institutions on Virtual Currencies
By Editors | 14/01/2014
With the recent rise of Bitcoin across the globe, the Hong Kong Monetary Authority (HKMA) writes a cautionary letter to authorized institutions (AI) in the city state about virtual currencies.
Anti-Money Laundering
Singapore Releases Report on Money Laundering and Terrorist Financing
By Editors | 13/01/2014
A Singapore government-wide National Risk Assessment (NRA) exercise over two years has found in many sectors a robust regime to combat money laundering and terrorist financing.
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