Financial Crime

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    Anti-Money Laundering

    RBI Directs NBFCs to Limit Cash Disbursals for Gold Loans

    By Ajoy K Das | 10/05/2024

    The Income Tax Act prohibits any individual from receiving more than INR 20,000 as a loan amount in cash.

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    PEPs & Sanctions

    Australia Publishes Sanctions Advisory for Crypto Exchanges

    By Nithya Subramanian | 10/05/2024

    Digital currency exchanges should take “reasonable precautions” and exercise due diligence to prevent sanctions evasion.

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    Anti-Money Laundering

    Singapore to Strengthen Laws to Pursue Money Launderers

    By Nithya Subramanian | 10/05/2024

    Sectoral regulators will have access to STRs filed by entities they regulate, to enable better detection.

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    PEPs & Sanctions

    EU Ambassadors Agree on Use of Frozen Russian Assets

    By Editors | 10/05/2024

    90% of the interest generated from the frozen Russian state assets will be used for military aid for Ukraine.

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    PEPs & Sanctions

    Malaysia Tells US Officials it Only Recognises UN Sanctions

    By Editors | 10/05/2024

    US officials have warned Malaysia about ship-to-ship transfers and Iranian money moving through its financial system.

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    PEPs & Sanctions

    Report Calls on US Congress to Review DRPK Sanctions

    By Editors | 10/05/2024

    The report warns that the enhanced partnership between Russia and North Korea could undermine the effectiveness of US policy.

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    Supervision & Enforcement

    FCA Defends Proposal to Name Firms Under Investigation

    By Editors | 09/05/2024

    The government, lawmakers and industry worry that the ‘name and shame’ approach will harm the market and individual companies.

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    Anti-Money Laundering

    FIs Exposed to Land Conversion-related Financial Crime Risk

    By Manesh Samtani | 09/05/2024

    WWF-UK and Themis have identified vulnerabilities when it comes to handling the proceeds of land conversion-related financial crimes.

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    Supervision & Enforcement

    Advice Fee Deducted from Super Funds are Too High: ASIC

    By Sanday Chongo Kabange | 09/05/2024

    ASIC says trustees need to improve their oversight of advice fee deductions from super fund accounts.

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    Market Abuse

    US Trial Begins Over Collapse of Archegos Capital Management

    By Manesh Samtani | 09/05/2024

    Archegos Founder Bill Hwang is charged with racketeering conspiracy, securities fraud, wire fraud and market manipulation.

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