Financial Action Task Force

Sanctions

US Sanctions Prompt Turkish Banks to Reject Russian Payments

By Editors | 22/01/2024

Turkish banks are now refusing to accept payments from Russian banks for exports, due to the threat of US sanctions.

AML / KYC

SEBI Modifies Rules for Foreign Investments in AIFs

By Ajoy K Das | 15/01/2024

SEBI updates threshold for determining beneficial ownership, extends mandatory custodian and dematerialisation requirements to reduce money laundering risks.

AML / KYC

Transparency and Independent Oversight Main Issues of FATF: Experts

By Nithya Subramanian | 11/01/2024

A roundtable organised by RUSI concluded that marginal reforms aimed at improving transparency could be more successful and impactful.

AML / KYC

RUSI, FFIS Urge Greater Cross-Sector Collaboration on FinCrime

By Ranamita Chakraborty | 11/01/2024

The new report highlighted the underutilisation of payments infrastructure in economic crime analysis, citing challenges in policymaking.

AML / KYC

Singapore Tables Bill to Strengthen Measures Against PF Risk

By Editors | 10/01/2024

Gem and precious metal dealers, legal practitioners, moneylenders and pawnbrokers will be required to address proliferation financing risks.

AML / KYC

Philippines Directs DNFBPs to Tighten Suspicious Transaction Reporting

By Sanday Chongo Kabange | 02/01/2024

Amended AMLC guidelines say no administrative, criminal or civil proceedings shall lie against any person for filing CTRs or STRs in good faith.

Press Release

Regulation Asia: Top 20 News Stories for 2023

By Editors | 02/01/2024

This list presents the most-read news stories published by Regulation Asia in 2023, based on aggregated user traffic analytics.

AML / KYC

Philippines Tightens Travel Rule Requirements for Crypto

By Editors | 01/01/2024

VASPs are expected to obtain, verify, and hold originator and beneficiary information for transactions with unhosted wallets regardless of the amount involved.

Big Picture

“No Threshold” Approach Way Forward for Beneficial Ownership Frameworks

By Ranamita Chakraborty | 27/12/2023

Experts recommend proper legal frameworks, comprehensive verification processes, and international cooperation, to improve the effectiveness of beneficial ownership systems.