The guidelines apply to cross-border activities using domestic or foreign currencies, as well as domestic activities using foreign currencies.
February 7, 2021Penalties are being raised for AML/CTF offences and failures to file suspicious transaction reports, while Singapore also expands on its arrangements with foreign FIUs.
November 21, 2018A 70% increase in suspicious matter reporting over the previous year was partly attributed to the strong message sent by AUSTRAC's A$700mn enforcement action against CBA.
October 25, 2018New guideline requires financial institutions to strengthen monitoring and enhance due diligence on accounts intended for crypto exchange operations and report suspicious transactions to KoFIU, including transfers to overseas exchanges.
June 28, 2018Framework proposed by Korean Blockchain Association proposes includes $1.8mn minimum equity capital, five year storage of transaction records , ethical charter to prevent insider trading.
April 19, 2018