AML / KYC

    AML / KYC

    Global AML Regime Delivers Intelligence Value but Fails on Core Goals, Study Finds

    By Manesh Samtani | 25/07/2025

    A new paper argues that the global AML system is failing to deter crime despite huge costs, with its main value being an intelligence tool.

    AML / KYC

    Sri Lanka to Start Registering Crypto Firms Ahead of FATF Review

    By Duruthu E Chandrasekera | 24/07/2025

    The move, driven by an upcoming FATF evaluation, will require VASP registration, but the CBSL stresses it is not legalisation.

    Sanctions

    UK OFSI Publishes Threat Assessment on Crypto Sector

    By Nithya Subramanian | 24/07/2025

    The report finds that crypto firms are likely under-reporting sanctions breaches and remain vulnerable to illicit flows from designated entities in Russia, North Korea and Iran.

    Crypto / Digital Assets

    HKMA Warns of 'Frothiness' in Stablecoin Market, Signals Strict AML Rules

    By Sanday Chongo Kabange | 24/07/2025

    The HKMA will grant only a handful of stablecoin issuer licences initially and impose stringent AML rules amid concerns over market speculation.

    Trending

    Wolfsberg Group Publishes Statement on Risk Based Approach

    By Manesh Samtani | 24/07/2025

    The Wolfsberg Group outlined three core principles for financial crime compliance and committed to updating its foundational risk-based approach guidance.

    AML / KYC

    Bangladesh Losing $16B Annually Due to Lax TBML Controls - Study

    By Mark Johnston | 24/07/2025

    New BIBM research finds that the banking industry's failure to enforce AML controls is causing USD 16 billion in annual losses through TBML.

    Fintech / Regtech

    Malaysia Plans Law to Mandate MyDigital ID Amid Low Uptake

    By Nithya Subramanian | 23/07/2025

    The legislation is expected to boost uptake beyond the current 2.8 million users and restore public confidence in the platform.

    Enforcement

    HKMA Fines Four FIs HKD 17.8M for AML and CDD Failures

    By Sanday Chongo Kabange | 23/07/2025

    The HKMA has penalised three banks and a stored value facility licensee for AML/CFT control deficiencies.

    Enforcement

    AUSTRAC Announces Closure of Enforceable Undertaking with PayPal

    By Sanday Chongo Kabange | 22/07/2025

    AUSTRAC has cancelled its enforceable undertaking with PayPal after the company completed a two-year remediation plan.

    AML / KYC

    Malaysia SC Defends Regulatory Framework for Digital Assets

    By Editors | 22/07/2025

    The SC has clarified its collaborative approach with BNM, highlighting existing rules and robust enforcement against illicit activities.

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