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Anti-Money Laundering
SFC Fines China Everbright Securities for AML/CFT Violations
By Editors | 16/06/2022
Unrelated clients received deposits from the same third party within four days, and then used the funds to trade in the same stock.
Fraud, Scams & Cybercrime
Singapore Trade Finance Registry to Go Live in Q4
By Editors | 16/06/2022
The Association of Banks in Singapore has selected MonetaGo and GUUD to deliver a registry that will prevent duplicate financing and fraud.
PEPs & Sanctions
UK OFSI Gets Stronger Powers to Punish Sanctions Breaches
By Editors | 16/06/2022
OFSI will no longer have to prove a person had knowledge or reasonable cause to suspect they were in breach of sanctions to impose a civil penalty.
Anti-Money Laundering
US, UK to Jointly Promote Privacy-Enhancing Tech for AML
By Editors | 15/06/2022
The joint initiative will seek to accelerate the development of privacy-preserving federated learning solutions that can help to combat financial crime.
Conduct, Culture & Accountability
NZ FMA Fines Cigna for ANZ Product Distribution Failures
By Editors | 15/06/2022
ANZ was fined last year for making misleading representations when distributing CCRI policies, many of which were issued by Cigna and OnePath.
Anti-Money Laundering
Australian Federal Police Sets Sights on Italian Crime Groups
By Editors | 15/06/2022
Australian Police will use data obtained during Operation Ironside to target Italian organised crime syndicates for drug trafficking and money laundering.
Anti-Money Laundering
FATF Joins UN Counter-Terrorism Coordination Compact
By Editors | 14/06/2022
Cooperation between the FATF and United Nations will strengthen their ability to go after the money that funds terrorist groups, said Marcus Pleyer.
Conduct, Culture & Accountability
UK FCA Places Credit Suisse on Regulatory Watchlist
By Editors | 14/06/2022
Credit Suisse was added to the FCA’s watchlist due to concerns that it was not doing enough to improve its culture, governance and risk controls.
Anti-Money Laundering
FATF Re-rates UK for Progress on Correspondent Banking
By Editors | 14/06/2022
The FATF also commends the UK for progress made to expand its FIU’s ability to conduct operational analysis.
Anti-Money Laundering
IMF Calls on Philippines to Enhance AML Supervision
By Sanday Chongo Kabange | 14/06/2022
Limited actions to amend bank secrecy laws present risks to the Philippines. Casinos, the gaming industry, and crypto exchanges are flagged as risky.
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