Financial Crime

Anti-Money Laundering

China Shuts Down Cross-border Gambling, Payments Platforms

By Sanday Chongo Kabange | 20/01/2021

The Ministry of Public Security arrested over 75,000 suspects and shut down thousands of online gambling platforms, payment platforms and underground banks in 2020.

Trade Based Money Laundering

Australian Border Force Disrupts Money Laundering by Drug Cartels

By Editors | 20/01/2021

9 Australian and 7 international banks were used to launder A$500mn in illegal profits from the drug trade between 2014 and 2017.

Market Data & Technology

GLEIF Enhances LEI Search Engine, Automates Access to LEI Data

By Editors | 19/01/2021

A new API enables third-party developers to automate searches and retrieve higher quality LEI data from within their application environments.

Anti-Money Laundering

Lessons Learned From APAC’s Landmark Year of AML Fines

By Payal Patel | 19/01/2021

Drawing from landmark penalties in 2020, FINTRAIL’s Payal Patel and Sara Abbasi identify key lessons to help financial institutions guard against financial crime.

Anti-Money Laundering

UPDATED: Philippine Senate Approves Amendments to AML Law

By Editors | 19/01/2021

The approval comes ahead of an evaluation by the FATF, slated for February, as the Philippines seeks to avoid being gray-listed.

Supervision & Enforcement

CBIRC To Supervise Insurance AMCs Based On Regulatory Ratings

By Editors | 18/01/2021

The proposed regulatory rating system will be tested from 13 January until end-2021, following which full implementation will occur starting 1 January 2022.

PEPs & Sanctions

US Sanctions Six More Chinese, Hong Kong Officials

By Editors | 17/01/2021

The latest designations are a response to the arrest of 53 pro-democracy politicians and activists this month. Hong Kong’s government called the move “insane, shameless and despicable”.

Supervision & Enforcement

CBIRC Sets Out New Rating System for Consumer Credit Sector

By Editors | 17/01/2021

Consumer finance firms with the lowest ratings will be ordered to submit to a merger, acquisition, reorganisation, or to withdraw from the market.

KYC & CDD

SEBI Proposes New Process for KYC in Securities Market

By Editors | 17/01/2021

Under the proposal, KYC Registration Agencies, stock exchanges and depositories would be responsible for client KYC processes.