Collaboration with regtech firm Tookitaki has enabled deeper and broader analyses of data sets which can be applied to all processes within AML framework.
August 24, 2018The Japanese government plans to use personal credit information and social media IDs to monitor suspicious crypto trading activities and accounts.
June 29, 2018FSA to conduct interviews and on-site inspections on all of Japan’s banks and credit unions’ measures to prevent money laundering and illegal remittances.
June 7, 2018US regulator FINRA has fined ICBC Financial Services for failing to have an AML program in place; ICBC FS also settled a case with the US SEC, paying $860,000 for failing to report suspicious transactions in its penny stock trading...
May 17, 2018Recently in Hong Kong, ACAMS brought financial industry participants to discuss action to combat financial crime. Progress on regulation, advancements in technology and FIs’ willingness to do their part are making all the difference.
May 10, 2018KRX launches new market surveillance system based on artificial intelligence; reduces time to secure data on suspicious transactions from 5 days to 1 hour.
May 8, 2018Former representative deliberately concealed identity of beneficial owner on three accounts, making it difficult for the bank to monitor and detect suspicious transactions.
May 7, 2018Blockchain technology is ushering in a new epoch of monetary oversight, creating opportunities and challenges for regulators in a world disrupted by the advent of cryptocurrencies.
May 3, 2018Proposed bill will limit cash payments by corporations and individuals to a maximum of IDR100 million, or USD7,200.
April 22, 2018Recent FCA case highlights cost of mismanaged outsourcing. Potential IT problems are brewing for private equity GPs too as big deals systemically overlap banking system.
April 16, 2018