ADVERTISEMENT
News on regulatory requirements, innovations, and challenges in customer identification, risk assessments, and due diligence processes for financial institutions.
DeFi & Web3
Decentralised Crypto Exchanges Could Render Regulatory Efforts Meaningless
By Bradley Maclean | 29/01/2018
Global regulators and institutions need to work together to develop globally harmonised standards, rather than the onerous regulatory frameworks proposed […]
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.
KYC & CDD
Chinese Banks Told to Develop e-KYC, Facial Recognition
By Samuel Riding | 22/01/2018
PBOC notice says e-KYC can help better serve real economy; SME account applications should be audited within two days of receipt.
KYC & CDD
MAS to End Pre-Approval Requirement for Non-Face-to-Face KYC
By Samuel Riding | 17/01/2018
Regulator says money changers, remittance firms don’t need pre-approval for video-onboarding and other tech, but must have non-face-to-face procedures audited.
Anti-Money Laundering
SFC Urges Licensees to File “Better Quality” Suspicious Transaction Reports
By Editors | 17/01/2018
Circular sent to firms following a feedback report issued by the Joint Financial Intelligence Unit.
Cryptocurrency
UPDATED – Korea to Implement ID System for Crypto Traders
By Manesh Samtani | 17/01/2018
Plan includes penalties for noncompliance, rooting out of foreign investors and minors, but no trading ban in the short term.
KYC & CDD
Registration with Financial Information System Compulsory – Indonesia Regulator
By Editors | 11/01/2018
Move will require all financial services firms operating in the country to provide customers identification and tax details to the regulator by 2022.
Cryptocurrency
Korea, China, Japan Join Hands on Cryptocurrency Regulation
By Manesh Samtani | 10/01/2018
Korea carries out bank inspections, China power cut on Bitcoin miners, Japan scrutinises banks’ cryptocurrency activities.
JOIN OUR NEWSLETTER
An exclusive weekly selection of top stories from the Regulation Asia editorial team.