AML / KYC

AML / KYC

KoFIU Planning to Conduct More Intensive AML Inspections

By Nithya Subramanian | 10/03/2025

KoFIU wants greater vigilance against illicit finance as digital transactions grow. It will conduct intensive inspections on institutions with weak AML controls.

AML / KYC

GLEIF Launches Open Data Network to Foster Data Compatibility

By Thisanka Siripala | 10/03/2025

Led by GLEIF and Open Ownership, the initiative aims to embed LEIs into open data sources to enhance data utility across the public and private sectors.

Crypto / Digital Assets

Taiwan FSC Implements New Crypto Custody Rule for VASPs

By Mark Johnston | 10/03/2025

Virtual asset custodians that meet international information security management standards can store up to 30% of client assets in hot wallets.

AML / KYC

Asian Countries Taking on Trade-based Money Laundering Challenge

By Nathan Lynch | 10/03/2025

Nathan Lynch looks into the perennial challenge of TBML and the tools that Asian countries are deploying in response.

AML / KYC

US, EU Authorities Shut Down Russian Crypto Exchange Garantex

By Manesh Samtani | 09/03/2025

The takedown operation came after the EU sanctioned Garantex, prompting Tether to block wallets on the platform holding more than $26mn.

AML / KYC

MAS Asks Banks to Improve Commodity Financing Risk Controls

By Nithya Subramanian | 07/03/2025

MAS shared its findings from thematic inspections, highlighting areas where banks and finance companies need to improve.

AML / KYC

EBA Consults on Technical Standards for AML Framework

By Nithya Subramanian | 07/03/2025

The proposed standards cover criteria for direct supervision, risk assessment methodology, CDD requirements, and enforcement measures.

Fintech / Regtech

AUSTRAC to Expand AI Use in Intelligence, Regulatory Operations

By Thisanka Siripala | 07/03/2025

AUSTRAC is currently developing and piloting uses of AI which will in the future expand usage patterns and domains.

Fintech / Regtech

Australia’s Banking Revolution: Leveraging AI in a Sheltered but Evolving Market

By Bradley Maclean | 06/03/2025

Australia’s near-term trajectory in AI adoption hinges on strategic actions that address existing gaps while positioning the sector for sustainable growth.