Financial Crime

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    Anti-Money Laundering

    HKMA Seeking to Identify Next Areas of Focus in AML Regtech

    By Manesh Samtani | 29/04/2024

    HKMA is inviting professional firms to recommend AML Regtech use cases where adoption rates can be targeted for increase over the next two years.

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    Supervision & Enforcement

    Law Enforcement Agencies to Boost Data Sharing: INTERPOL

    By Mark Johnston | 29/04/2024

    Delegates at INTERPOL’s Heads of NCBs conference identified initiatives to encourage greater operational sharing of criminal data.

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    Data Privacy

    Message Encryption In Focus for Indian, European Authorities

    By Editors | 29/04/2024

    WhatsApp will leave India if it is required to break encryption. Europol expresses concern with message encryption on Messenger.

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    PEPs & Sanctions

    OFAC Extends Authorisation for Russia-related Energy Transactions

    By Editors | 29/04/2024

    The general licence authorises energy-related transactions with nine Russian banks and the central bank. It was scheduled to expire on 1 May 2024.

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    Conduct, Culture & Accountability

    CSRC Tightens Investment Restrictions for Former Employees

    By Editors | 29/04/2024

    The revised regulations prohibit former employees who held positions in issuance supervision and regulatory roles from participating in IPOs for ten years after departure.

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    Anti-Money Laundering

    China Seeks Feedback on Draft Revisions to AML Law

    By Editors | 29/04/2024

    The scope of the law is expanded to cover non-financial businesses and professions and formally adopt the concept of “beneficial ownership”, among other changes.

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    Anti-Money Laundering

    UK Law Enforcement Gets Stronger Powers to Seize Crypto

    By Editors | 29/04/2024

    UK law enforcement agencies will be able to seize crypto assets from a suspect without having to make an arrest first.

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    Fraud, Scams & Cybercrime

    RBI Plans to Allow Banks Autonomy to Freeze Suspicious Accounts

    By Ajoy K Das | 29/04/2024

    The RBI plans to allow banks to suspend suspicious accounts without having to wait for a police complaint to be registered.

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    Anti-Money Laundering

    GCFFC Estimates Human Trafficking Proceeds at $498b for 2024

    By Manesh Samtani | 28/04/2024

    APAC has the most human trafficking victims compared to other regions, including in terms of forced criminality, forced marriages, and sexual exploitation.

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    PEPs & Sanctions

    UK FCA Proposes Updates to Financial Crime Guide

    By Editors | 28/04/2024

    The updates cover regulatory expectations on sanctions, proliferation financing, transaction monitoring, and cryptoassets, among other areas.

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