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Supervision & Enforcement
APAC Overtook US in AML Penalties For 2020: Fenergo
By Editors | 10/12/2020
APAC has overtaken the US in terms of the value of enforcement actions for the first time since 2015, largely due to the Goldman and Westpac cases.
Cloud & Infrastructure
Global LEI Foundation to Develop ‘Cryptographically Verifiable LEIs’
By Editors | 10/12/2020
The ‘vLEI’ will create a cryptographically secure chain of trust that replaces manual processes required to access and confirm an entity’s LEI data.
Fraud, Scams & Cybercrime
Singapore Authorities Issue More Charges in Wirecard Probe
By Editors | 09/12/2020
The director of local accounting firm Citadelle Corporate Services was hit with three additional charges for falsifying letters confirming Wirecard cash balances.
Fraud, Scams & Cybercrime
AUSTRAC Targets Disability Insurance Fraud in New Guidance
By Editors | 09/12/2020
A new financial crime guide details the indicators that can help financial services firms identify when NDIS fraud may be taking place.
Trade Based Money Laundering
FATF Releases New Report on Trade-based Money Laundering
By Editors | 09/12/2020
A key finding of the report is that greater awareness about all aspects of the trade process would likely increase opportunities to detect and disrupt TBML.
Trade Based Money Laundering
Combatting TBML Through Collaboration and Technology
By Henry Roxas | 09/12/2020
R3’s Henry Roxas describes the complexities of trade-based money laundering in Asia and the importance of collaboration to tackle the problem once and for all.
Anti-Money Laundering
AUSTRAC Publishes AML/CTF Guidance for Remittance Providers
By Editors | 09/12/2020
AUSTRAC provides guidance on conducting an ML/TF risk assessment, providing risk awareness training to staff, and fulfilling reporting obligations, among others.
Market Abuse
ANZ, Deutsche, Citigroup Face Trial Over Criminal Cartel Case
By Editors | 09/12/2020
The banks are alleged to have colluded on how to offload ANZ shares in 2015 by restricting supply to maintain market prices.
Anti-Money Laundering
Philippine SEC Proposes Stronger Rules on Beneficial Ownership
By Editors | 08/12/2020
The SEC is seeking to require the disclosure of beneficial owners, nominators, principals, and nominee arrangements within 10 days from a company’s registration.
PEPs & Sanctions
US Sanctions Another 14 Chinese Officials Over Hong Kong
By Editors | 08/12/2020
A Chinese foreign ministry spokesperson said Beijing would take “firm counter-measures against the malicious actions by the US”.
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