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AML / KYC
MAS Issues New AML/CFT Notices for Financial Institutions
By Manesh Samtani | 02/03/2022
The Notices cover activities involving precious stones and metals, services and transactions involving digital payment tokens, and risk assessments on shell companies.
Fintech / Regtech
Korean Think Tank Classifies Some NFTs as Virtual Assets
By Editors | 23/02/2022
NFTs used in games and for payments can satisfy the definition of virtual assets and may be subject to AML obligations, the Korea Institute of Finance said.
AML / KYC
18 Crypto Exchanges Jointly Launch Travel Rule Solution
By Editors | 18/02/2022
The firms include BitGo, bitFlyer, Bittrex, BlockFi, Circle, Coinbase, Fidelity Digital Assets, Gemini, Kraken, and Robinhood, among others.
AML / KYC
A Radical Re-think of Financial Crime Compliance
By Kelvin Toh | 17/02/2022
A fundamental rethink of FCC is needed to move away from tick-box compliance and ensure greater focus on effectiveness and outcomes, says Kelvin Toh.
AML / KYC
MAS Tables Bill to Obtain Enhanced Regulatory Powers
By Sanday Chongo Kabange | 15/02/2022
The Financial Services and Markets Bill will give MAS enhanced regulatory powers to address misconduct, crypto asset and technology risks.
AML / KYC
Australia Senate Introduces Tranche 2 Reform Bill, Again
By Manesh Samtani | 13/02/2022
The bill, if passed, will help fulfill a nearly 16-year-old commitment to bring gatekeeper professions within Australia’s AML regime, and require the establishment of a public UBO register.
AML / KYC
HK Gov Issues Discussion Paper on Proposed VASP Regime
By Manesh Samtani | 11/02/2022
Licensing will be available to companies incorporated elsewhere as long as they have a registration in Hong Kong.
AML / KYC
PBOC Fines MYbank for AML and Other Violations
By Editors | 10/02/2022
MYbank failed to perform customer identification obligations, preserve identity information and transaction records, and report suspicious transactions.
AML / KYC
Crypto Prepares for a Regulated Future
By David Liu | 07/02/2022
As crypto goes mainstream, regulatory compliance will require robust and financial institution-grade AML and KYC processes, says David Liu.
AML / KYC
Will 2022 Be the Year of NFT Regulation?
By Javier Tamashiro | 27/01/2022
The jury is still out on how the NFT arena will be regulated, but marketplaces should still be applying a baseline standard of compliance practice, says Javier Tamashiro.
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