For 2023 and 2024, MAS will prioritise enforcement in the digital asset ecosystem as well as regulatory compliance by asset and wealth managers.
September 20, 2023Thong Chee Kun and Gazalle Mok from Rajah & Tann Singapore tell Regulation Asia that it is crucial for real estate developers and agents to conduct regular risk assessments and AML training to identify evolving money laundering risks and techniques.
September 19, 2023Nepal’s AML/CFT regime has undergone significant reform since its 2011 mutual evaluation, however further legislative amendments are needed.
September 13, 2023A key and "almost universal" element of money laundering associated with tax crimes is the concealment of beneficial ownership, APG says in a new report.
September 6, 2023The UK is now one of several jurisdictions to have now implemented the travel rule for the crypto sector.
September 5, 2023Public access to the beneficial ownership register will be enabled, but only after there is clarity on the effect of the CJEU's November 2022 ruling.
September 4, 2023Crypto lender Delio failed to assess money laundering risks, had KYC lapses, and failed to restrict transactions with unregistered VASPs.
September 4, 2023Seven entities within a group accepted deposits without a licence. Three other entities breached AML/CFT requirements.
September 4, 2023MAS inspections found "executional lapses" in this area as a result of "weak oversight" and "lack of risk awareness and vigilance".
September 1, 2023The report notes that Brunei has a new framework on beneficial ownership transparency, but that it is experiencing implementation challenges.
August 31, 2023