Recent 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, 2018Reports suggest banks will have three months to comply; central bank meanwhile explores feasibility of state-backed digital currency.
April 7, 2018Exchanges must register with AUSTRAC, adopt AML/CTF programme, verify customer identities, report suspicious transactions, maintain seven years of records.
April 5, 2018Sri Lanka’s financial crimes unit is investigating suspicious transactions originating from three Chinese-held accounts with LKR957 million.
April 2, 2018Staff and executives at three exchanges allegedly siphoned customer deposits to buy cryptocurrency on other platforms.
March 20, 2018In a speech at Money 20/20 Asia, MAS managing director Ravi Menon spoke about the promise of blockchain technology and containing cryptocurrency risks; AML/CTF risks present a "clear and present danger".
March 17, 2018Cryptocurrency exchanges are required to fully identify all customers and monitor for money laundering and terrorist financing activities.
March 1, 2018Global police organisation says to increase information sharing, review AML/CTF rules pertaining to digital currencies, take action against cryptocurrency ‘tumblers’.
February 1, 2018It is clearer than ever that Chinese regulators take AML as a major priority, but domestic banks can lack the expertise to meet ever-increasing requirements.
January 24, 2018Nationwide survey reveals USD 3.5 billion in cryptocurrency transactions over 17-months; banks suspend services to exchanges to deter 'suspicious transactions'.
January 23, 2018