AML / KYC

AML / KYC

Singapore’s Property Sector Under Scrutiny for Money Laundering Risks

By Ranamita Chakraborty | 19/09/2023

Thong Chee Kun and Gazalle Mok from Rajah & Tann Singapore tell Regulation Asia that it is crucial for real estate developers and agents to conduct regular risk assessments and AML training to identify evolving money laundering risks and techniques.

AML / KYC

Citibank’s Andrew Marane Explores the Dynamics of Cybercrime in Banks

By Editors | 19/09/2023

Andrew Marane, Director, Fraud Operations APAC/EMEA at Citibank, spoke at Regulation Asia’s Fraud & Financial Crime Asia 2023 event on 13 July. At the sidelines of the event, he shared how the dynamics of cybercrime in banks have changed with fraudsters changing the way they attack. He also touched on million-dollar scams against clients becoming a major fraud challenge for banks and how education can prevent them.

Fintech / Regtech

Singapore Banks Integrate Anti-Malware Feature in Mobile Apps

By Editors | 19/09/2023

The security feature enables banks to block access to their mobile apps and alert the customer if malware is detected on their device.

AML / KYC

NZ Banks Pledge New Measures to Combat Scams

By Sanday Chongo Kabange | 18/09/2023

The measures include the establishment of a national Anti-Scam Centre and the introduction of a ‘confirmation of payee’ account name checking service.

AML / KYC

EBA CLEARING Issues Specifications for New Anti-Fraud Functionality

By Editors | 18/09/2023

Nine banks are engaged in the data model training for the new fraud-fighting functionality in STEP2 and RT1.

AML / KYC

SC Ventures’ Su Kiang Lau Shares How Banks Face Fraud and Cybersecurity Challenges

By Editors | 18/09/2023

Su Kiang Lau, Executive Director – Conduct, Financial Crime and Compliance at SC Ventures, spoke at Regulation Asia’s Fraud & Financial Crime Asia 2023 event on 13 July. At the sidelines of the event, he discussed how banks are looking at major challenges such as fraud, cybersecurity crime and data security. He also shared how Standard Chartered is using data to detect fraud risks.

AML / KYC

Australia Introduces Identity Verification Services Bill to Parliament

By Editors | 17/09/2023

The government said the bill strikes “the right balance between achieving fast and convenient identity verification and maintaining strong standards of privacy and security.

AML / KYC

Sri Lanka Publishes First National Risk Assessment Since 2014

By Duruthu E Chandrasekera | 16/09/2023

The highest risks were identified among informal money remitters, real estate agents, banks and finance companies.

AML / KYC

Philippine SEC Teams Up With US Counterpart, IOSCO to Tackle Securities-related Crime

By Editors | 15/09/2023

The Philippines SEC is looking to strengthen its enforcement capabilities to protect investors from securities fraud and other forms of investment scams.