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Anti-Money Laundering
The Future of AML Auditing is Increasingly Digital
By Claus Christensen | 03/04/2022
A shift to digital-first AML auditing and more open communications will improve efficiency and effectiveness for regulators and regulated entities alike, writes Claus Christensen.
PEPs & Sanctions
US Designates Russian Tech Firms for Enabling Sanctions Evasion
By Manesh Samtani | 03/04/2022
US sanctions 21 entities and 13 individuals. EU to propose new measures this week. Australia applies 35% export tariff.
Fraud, Scams & Cybercrime
Bangladesh Proposes Law to Raise Penalties for Banking Fraud
By Editors | 03/04/2022
The bill would allow Bangladesh Bank to remove a bank’s owners, directors, executives, and other officials if they are involved in banking fraud.
Fraud, Scams & Cybercrime
US DOJ Charges Two for NFT Fraud, Money Laundering
By Sanday Chongo Kabange | 01/04/2022
The two defendants promised benefits to NFTs buyers and then transferred the $1.1mn in crypto proceeds to various wallets under their control.
Payments & Settlements
SAFE to Relax Threshold for Declaring Foreign Receipts, Payments
By Editors | 31/03/2022
SAFE proposes to increase the dollar threshold over which Chinese residents have to make declarations of their foreign receipts and payments.
Anti-Money Laundering
Australia a ‘Laggard on the World Stage’, Senate AML Inquiry Finds
By Manesh Samtani | 31/03/2022
Senate committee warns that the government’s failure to bring lawyers, accountants and real estate professionals into the AML/CFT regime is harming Australians.
Fraud, Scams & Cybercrime
Taiwan Central Bank Warns of Fraud Via Bitcoin ATMs
By Darien Choong | 31/03/2022
Bitcoin ATMs in Taiwan are being used to scam victims who attempt to transfer cash to specific accounts to purchase cryptoassets.
KYC & CDD
AML / KYC – Using OSINT for Enhanced Customer Due Diligence
By Guy Reeve | 31/03/2022
There are a wide range of ‘regulated entities’, including banking, superannuation, insurance, financial services providers such as lenders, international funds […]
Fraud, Scams & Cybercrime
Singapore Police, Banks Step Up Scam Intervention Efforts
By Editors | 31/03/2022
In a four-day operation last week, the police and five banks intervened in 150 scam cases, which resulted in the arrests of 35 individuals.
Fraud, Scams & Cybercrime
BSP Requires Banks to Implement Real Time Fraud Monitoring
By Sanday Chongo Kabange | 31/03/2022
Under new relations, Philippine banks and NBFIs are required to implement automated and real-time fraud monitoring and detection systems by end-December.
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