AML / KYC

Singapore ACIP Issues Guidance on Managing Crypto-Related ML/TF Risk

By Manesh Samtani | 17/07/2023

FIs are encouraged to actively identify customers with a nexus to cryptocurrencies, and to apply EDD where ML/TF and sanctions risks are assessed to be higher.

AML / KYC

FFC Asia 2023: Industry Faces Challenges in Advancing Beneficial Ownership Transparency

By Ranamita Chakraborty | 14/07/2023

Panellists at Regulation Asia’s Fraud and Financial Crime Asia conference highlighted the need for improved availability and accuracy of beneficial ownership information.

AML / KYC

Euroclear Faces $2b Lawsuit from Russian Fund Manager

By Editors | 14/07/2023

Russian asset manager First AM says its lawsuit is intended to protect the rights and interests of clients whose assets were frozen.

AML / KYC

BOT Offers Update on Implementation of Anti-Fraud Measures

By Mark Johnston | 14/07/2023

Banks have stopped sending links via SMS, email, and social media. Mobile banking users are also restricted to using just one device.

AML / KYC

Malaysia Arrests Former 1MDB Legal Counsel

By Editors | 14/07/2023

Jasmine Loo fled Malaysia in 2018 but is now willing to cooperate with Malaysian authorities on investigations.

AML / KYC

Australian Banks Push Back on Mandatory Scam Reimbursements

By Editors | 13/07/2023

CBA deputy CEO David Cohen warned of a “moral hazard trap”. ANZ CEO Shayne Elliott said the UK voluntary code model wouldn’t stop scams.

AML / KYC

UAE Becomes First Arab Country to Join APG as Observer

By Mark Johnston | 13/07/2023

A delegation from the UAE participated as an observer in the APG forum in Vancouver earlier this month. Other observers include the UK, France, and Germany.

AML / KYC

SEC Settles Charges Against Merrill Lynch for Failing to File SARs

By Editors | 13/07/2023

Merrill Lynch did not file hundreds of mandatory SARs because it erroneously used a $25,000 threshold instead of the required $5,000 threshold.

Crypto / Digital Assets

Woori Bank Caught Up in Crypto-related Embezzlement Scandal

By Sanday Chongo Kabange | 13/07/2023

On of Woori Bank’s employees embezzled about KRW 90 million and used it for personal investments in crypto.

Fintech / Regtech

Thailand Sets Up Central Fraud Registry

By Karen Ng | 12/07/2023

AI technology will be used, via the new registry, to help banks prevent suspicious accounts from completing fraudulent transactions.

JOIN OUR NEWSLETTER

An exclusive weekly selection of top stories from the Regulation Asia editorial team.