KYC & CDD

Anti-Money Laundering

Companies Commission of Malaysia’s Ravin Kaur Highlights Money Laundering Risks in Shell Companies

By Editors | 20/09/2023

Ravin Kaur, Senior Policy Advisor, AML/CFT Expert at Companies Commission of Malaysia, spoke at Regulation Asia’s Fraud & Financial Crime Asia 2023 event on 13 July. At the sidelines of the event, she shared how shell companies are being exploited for money laundering and transnational crime. She called for regulators and gatekeepers to conduct better customer due diligence when onboarding corporate entities to prevent misuse of shell companies.

Data Privacy

Australia Consults on Bill to Expand Digital ID System

By Mark Johnston | 19/09/2023

The bill would allow myGovID to be used in the private sector, and allow accredited private sector IDs to be used for some government services.

Anti-Money Laundering

Singapore’s Property Sector Under Scrutiny for Money Laundering Risks

By Ranamita Chakraborty | 19/09/2023

Thong Chee Kun and Gazalle Mok from Rajah & Tann Singapore tell Regulation Asia that it is crucial for real estate developers and agents to conduct regular risk assessments and AML training to identify evolving money laundering risks and techniques.

Market Abuse

SFC Penalises Chee Tak Securities and MIC for Regulatory Breaches

By Editors | 19/09/2023

Chee Tak Securities had no written manuals, policies and procedures on recording order instructions, ongoing monitoring, trade surveillance or employee dealing.

KYC & CDD

Australia Introduces Identity Verification Services Bill to Parliament

By Editors | 17/09/2023

The government said the bill strikes “the right balance between achieving fast and convenient identity verification and maintaining strong standards of privacy and security.

Cryptocurrency

Crypto Leaders Call For Prioritising the ‘Basics’ in Regulation

By Ranamita Chakraborty | 15/09/2023

Ripple CEO Brad Garlinghouse, BitGo CEO Mike Belshe and OKX president Hong Fang discuss the need for clear regulatory priorities in the evolving crypto landscape during a panel discussion at the Token2049 Singapore conference.

Structural Regulation

Australia to Ban Credit Card, Digital Currency Use for Online Gambling

By Editors | 14/09/2023

The  bill will make it illegal for online gambling companies to accept credit cards, credit related products and digital currency as payment methods for online gambling.

KYC & CDD

Singapore Announces New Initiatives to Support Family Offices

By Editors | 14/09/2023

The initiatives will help new family offices orientate themselves in Singapore and strengthen their financial crime compliance capabilities.

Market Abuse

Thai SEC Charges Four Brokerage Execs for Stock Manipulation

By Mark Johnston | 13/09/2023

Criminal charges were filed against four executives of a brokerage firm, including its CEO, for manipulating prices during a 2018 IPO.