The approval comes ahead of an evaluation by the FATF, slated for February, as the Philippines seeks to avoid being gray-listed.
January 19, 2021With continuous innovation in the financial sector and the emergence of new types of financial businesses, it is necessary to improve the scope of AML supervision, the PBOC says.
January 2, 2021The requirement replaces an earlier proposal for OFCs to maintain a significant controllers register, which was deemed too operationally burdensome.
December 24, 2020This list presents the most-read new stories published by Regulation Asia in 2020, based on aggregated user traffic analytics.
December 22, 2020An AML bill introduced last October has passed the Senate but without last month's amendment to include real estate agents, accountants, lawyers.
December 14, 2020A 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.
December 9, 2020R3’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.
December 9, 2020Freeland’s Steve Galster discusses new initiatives to stop illegal wildlife traffickers by hitting them where it hurts the most – in their bank accounts – and how financial institutions can help.
December 7, 2020The FATF seeks feedback to help identify how divergent AML/CFT measures adopted at the national level add to the challenges of cross-border payments.
December 2, 2020Elliptic’s David Carlisle and Onchain Custodian’s El Lee discuss opportunities for the banking and cryptoasset industries to learn from one another in the fight against financial crime.
December 1, 2020