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PEPs & Sanctions
US Lawmaker Seeks Clarity on Tornado Cash Sanctions
By Editors | 28/08/2022
US Congressman Tom Emmer says the designations against Tornado Cash wallet addresses are a “divergence from previous OFAC precedent”.
Anti-Money Laundering
BSP Calls for ‘Limited Amendment’ to Bank Secrecy Law
By Editors | 27/08/2022
BSP senior assistant governor Elmore Capule told a Senate Committee the BSP is looking for a “limited relaxation of the bank secrecy laws”.
Anti-Money Laundering
Germany to Form New Federal Authority for Financial Crime
By Editors | 26/08/2022
Germany currently has more than 300 supervisors, an issue highlighted by the FATF in its latest mutual evaluation report on the country.
Supervision & Enforcement
CBIRC Undergoing Internal Restructuring Process – Report
By Editors | 25/08/2022
The CBIRC will form a new Internal Audit Department and merge its Risk Disposal Bureau with its Anti-Crime Bureau.
Anti-Money Laundering
MAS Issues AML Guidance for External Asset Managers
By Manesh Samtani | 25/08/2022
The guidance covers governance, risk assessment frameworks, customer due diligence, enhanced CDD, and suspicious transaction reporting.
Market Abuse
MAS Fines Noble Group Over Misleading Financial Statements
By Editors | 25/08/2022
The S$12.6mn fine is understood to be the largest fine for the publication of misleading financial statements in Singapore’s history.
Anti-Money Laundering
Wolfsberg Group Issues Guidance on Correspondent Banking RFIs
By Editors | 24/08/2022
When used to its “fullest potential”, the RFI process can provide insights into how respondents’ AML/KYC programmes work in practice.
Market Abuse
FCA Fines Citi’s UK Unit Over Trade Surveillance Issues
By Editors | 24/08/2022
The FCA said Citigroup did not properly implement MAR requirements to monitor orders and trades to detect market abuse.
Cryptocurrency
Korean Police Pilots Crypto Seizures to Settle Unpaid Fines
By Editors | 24/08/2022
The programme was introduced as a way to collect unpaid fines in a contactless way. The amount seized reportedly exceeded all collections made in the last three years.
Fraud, Scams & Cybercrime
SG Police Make Series of Arrests Targeting Scam Syndicates
By Editors | 24/08/2022
4 were arrested over phishing scams targeting bank customers, and another 13 as part of a joint operation with Malaysian police.
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