Financial Action Task Force

AML / KYC

SEC Thailand Proposes Regulations to Ban Privacy Coins

By Editors | 28/11/2021

The proposed ban is aimed at preventing the misuse of digital assets as a tool to commit crime, the SEC said.

AML / KYC

The Rising Standards of AML/CFT Compliance in Hong Kong

By Susanne Harris | 22/11/2021

Mayer Brown’s Susanne Harris, Wei Na Sim, Alan Linning and Charlene Wong discuss key developments in the AML/CFT space in Hong Kong in 2021.

AML / KYC

APG Re-rates Sri Lanka on One FATF Recommendation

By Editors | 11/11/2021

Sri Lanka extended its foreign exchange declaration requirements to include the full range of bearer negotiable instruments, in line with Recommendation 32.

Fintech / Regtech

Indonesia, UAE to Cooperate on Payments, Fintech, AML

By Editors | 11/11/2021

Central banks will cooperate on cross-border payments, fintech, and AML. Financial services regulators will cooperate on developing the Islamic finance industry.

AML / KYC

What Future AML Compliance Requires: A Technology Perspective

By Amber Qin | 10/11/2021

Intelligent AML solutions need to achieve a fine balance between compliance, transparency, effectiveness, and efficiency, say Amber Qin and Sophia Wu from Ant Group.

AML / KYC

India Undergoes National Risk Assessment on ML/TF Risks

By Editors | 07/11/2021

Central agencies including the RBI have been tasked with evaluating sectors that are vulnerable to ML/TF risks. India’s mutual evaluation is expected to take place around May 2022.

AML / KYC

Japan to Require Companies to Disclose Major Shareholders

By Editors | 03/11/2021

Banks will be able to ask companies to submit information about their major shareholders when opening accounts or making loans.

AML / KYC

Trust but Verify: Establishing a Client’s Source of Wealth

By Editors | 01/11/2021

The Pandora Papers provide a stark reminder of the importance of having a robust risk assessment process in place for due diligence and source of wealth checks.

AML / KYC

FATF Issues Final Updated Guidance on Virtual Assets, VASPs

By Manesh Samtani | 29/10/2021

The guidance offers clarification on the definition of VASPs, and explains how the FATF standards apply to stablecoins, P2P transactions, NFTs and DeFi.