Financial Crime

Anti-Money Laundering

Japan FSA Offers Guidance on Validating AML Effectiveness

By Thisanka Siripala | 22/01/2025

New discussion paper emphasises the importance of continuous validation to ensure AML/CFT measures remain effective against evolving risks

Anti-Bribery & Corruption

US Recovers Additional $20m in 1MDB Corruption Probe

By Nithya Subramanian | 21/01/2025

The recovery involves funds that were embezzled from 1MDB and paid to companies owned by a US businessman

Cybersecurity

China Releases Reports on US Cyberattacks on Two Major Entities

By Thisanka Siripala | 21/01/2025

The targeted entities included an advanced materials research institute, and a large technology firm in the smart energy and digital information industry.

Structural Regulation

UK FCA Commits to Relaxing Rules to Drive Economic Growth

By Thisanka Siripala | 21/01/2025

FCA Chief Executive Nikhil Rathi said the regulator will make growth will be a fundamental pillar of its strategy through to 2030

Cryptocurrency

Vietnam to Introduce Regulatory Sandbox for Crypto, Fintech

By Nithya Subramanian | 21/01/2025

The sandbox will allow testing of business models in areas such as cryptocurrency trading and digital asset management

Conduct, Culture & Accountability

IESBA to Develop New Governance Framework for Accounting Firms

By Thisanka Siripala | 21/01/2025

The framework will be designed to promote, support and reinforce a high standard of ethical behaviour at accounting firms

PEPs & Sanctions

OFAC Fines Machine Tools Manufacturer for Violating Russia Sanctions

By Editors | 21/01/2025

OFAC said firms should ensure they implement effective measures to prevent both direct and indirect access to their goods and services by blocked persons

PEPs & Sanctions

Russia, Iran Sign ‘Comprehensive Strategic Partnership Treaty’

By Editors | 20/01/2025

The agreement envisions the exchange of intelligence information and cooperation on security issues between Russia and Iran

PEPs & Sanctions

OFAC Fines Real Estate Company for Sanctions Evasion Scheme

By Editors | 20/01/2025

OFAC said FIs that deal with gatekeepers should conduct sufficient due diligence to ensure they are not acting as proxies for sanctioned parties