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Anti-Money Laundering
FATF Examines Collaborative Analytics and the Need for Privacy
By Manesh Samtani | 06/07/2021
An AML risk information sharing platform in trial operation in China allows FIs to check whether a customer is labelled high risk by other FIs without any customer data being exchanged.
Market Abuse
Taiwan Probe Casts Light on ‘Rampant’ Insider Trading – Report
By Sanday Chongo Kabange | 06/07/2021
A probe into a vaccine maker has cast a light on the prevalence of stock manipulation in Taiwan, where financial regulators do not have jurisdiction over insider trading cases.
Anti-Money Laundering
SFC Fines Yardley Securities CEO for AML/CFT Breaches
By Editors | 05/07/2021
The processing and approval of suspicious third party fund transfers were attributable to the CEO’s failures to discharge his duties, the SFC said.
Anti-Money Laundering
Taiwan: New AML Rules For Crypto Exchanges Take Effect
By Sanday Chongo Kabange | 05/07/2021
Crypto exchanges in Taiwan have to report transactions worth more than TWD 500,000 and fulfill KYC requirements.
Anti-Money Laundering
FinCEN Publishes First Government-wide AML/CFT Priorities
By Ranamita Chakraborty | 05/07/2021
FinCEN will publish new rules within 6 months reflecting the priorities, which identify the most significant AML/CFT threats currently facing the US.
Anti-Money Laundering
FATF Examines Technology Use in AML/CTF Efforts
By Manesh Samtani | 05/07/2021
While the use of innovative AML/CFT technologies can help identify risks and focus compliance efforts, manual review and human input remain “very important”.
Anti-Money Laundering
Japan to Form Cross-agency AML Team Following FATF Review
By Editors | 05/07/2021
A new team being formed under the Cabinet Secretariat may help overcome the current fragmented bureaucracy and enhance cross-agency coordination.
Anti-Money Laundering
Risk Assessments Should Focus on National Priorities: Wolfsberg Group
By Manesh Samtani | 04/07/2021
Most FIs focus their AML/CTF risk assessments on technical compliance rather than government priorities and effectiveness, the Wolfsberg Group says.
Structural Regulation
MAS Proposes to Enhance Investigative, Supervision Powers
By Manesh Samtani | 04/07/2021
New powers will allow MAS to issue legally-binding directions to FIs in relation to unregulated business in bitcoin futures and other payment token derivatives traded on overseas exchanges.
Structural Regulation
SFC Sets Out Key Priorities in Annual Report
By Manesh Samtani | 03/07/2021
The SFC is implementing a number of projects that seek to leverage new technologies to enhance risk detection and workflow efficiency.
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