KYC & CDD

Cryptocurrency

US Lawmakers Advance Bills to Create Regulatory Clarity for Crypto

By Manesh Samtani | 27/07/2023

The ‘Financial Innovation and Technology for the 21st Century Act’ has now advanced in key committees in the US House of Representatives.

Cryptocurrency

Korea Securities Depository to Promote LEI Adoption in Crypto Market

By Sanday Chongo Kabange | 27/07/2023

The KSD and Code have signed a business agreement to promote the issuance and use of LEIs in the virtual asset market.

KYC & CDD

Australia: National Digital ID System Could Launch Within 12 Months

By Editors | 27/07/2023

Australia’s national digital ID system to revolutionise identity verification, streamline processes and enhance security.

Anti-Money Laundering

Court Ruling Requires PayPal to Comply With AML Laws in India

By Editors | 25/07/2023

The court dismissed a monetary penalty previously imposed on PayPal for failure to comply with the reporting obligations under the PMLA.

KYC & CDD

SEBI to Start Requiring FPIs to Provide LEI to Trade in India

By Editors | 23/07/2023

SEBI plans to give non-individual FPIs six months to provide an LEI, failing which their accounts will be blocked for further purchases.

Fraud, Scams & Cybercrime

Singapore Police Issues Advisory on Investment Scams

By Editors | 20/07/2023

The Singapore Police Force said 498 victims lost at least S$25.5mn through investment scams since June.

Structural Regulation

OECD Proposes Common Approach for Real Estate Information Exchange

By Ranamita Chakraborty | 20/07/2023

OECD recently submitted an updated report analysing the current state of tax transparency regarding foreign-owned real estate and made several recommendations.

Anti-Money Laundering

US Lawmakers Examine Criticism of FinCEN Beneficial Ownership Rule

By Editors | 18/07/2023

Witnesses criticised FinCEN for introducing overly complex rules and failing to account for the reporting burden on small businesses.

Anti-Money Laundering

FFC Asia 2023: Industry Faces Challenges in Advancing Beneficial Ownership Transparency

By Ranamita Chakraborty | 14/07/2023

Panellists at Regulation Asia’s Fraud and Financial Crime Asia conference highlighted the need for improved availability and accuracy of beneficial ownership information.