AML / KYC

AML / KYC

China Issues Draft AML Rules for Law Firms for Consultation

By Manesh Samtani | 15/04/2025

Among other things, the draft regulations require law firms to establish internal controls, conduct risk assessments, perform CDD, preserve records, and submit STRs.

AML / KYC

Shedding Light on HSBC’s Use of Machine Learning in Transaction Monitoring

By Manesh Samtani | 14/04/2025

Olivier Franses talks to Regulation Asia about HSBC’s use of machine learning in transaction monitoring, the challenges of implementation, and the resulting benefits.

AML / KYC

Korea FSS Announces Measures to Improve Access to Bank Services

By Thisanka Siripala | 14/04/2025

Banks are instructed to provide foreign language translations for essential documents and expand foreign language support within their mobile apps.

AML / KYC

Taiwan Announces Measures to Prevent Origin Laundering

By Manesh Samtani | 14/04/2025

Taiwan will strengthen monitoring of imports and exports to detect and punish firms trying to “wash the origin” of goods to circumvent US tariffs

Crypto / Digital Assets

US Authorities End ‘Regulation by Prosecution’ for Digital Assets

By Manesh Samtani | 14/04/2025

The SEC is considering introducing an exemptive relief framework that allows crypto firms to operate until federal regulations are in place.

AML / KYC

SEBI Adopts New Threshold for Granular Disclosures by FPIs

By Editors | 13/04/2025

The higher threshold reduces the number of FPIs that are subject to granular disclosure requirements, reducing compliance costs for foreign investors.

AML / KYC

HKMA Announces New Measures to Combat Financial Crime

By Sanday Chongo Kabange | 11/04/2025

HKMA, HKPF and HKAB have jointly announced new measures to strengthen the response to fraud and money laundering.

AML / KYC

ASIC Registry Upgrade Project to Include “Director ID Linking”

By Thisanka Siripala | 10/04/2025

As part of its RegistryConnect programme, ASIC is working on linking the director ID register with the Companies Register.

AML / KYC

Japan Banks Blocking Withdrawals from Expired Expat Accounts

By Thisanka Siripala | 10/04/2025

Accounts held by foreign nationals whose residency statuses have expired have been linked to impersonation and fraud cases.