Financial Action Task Force

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    PEPs & Sanctions

    Ukraine Calls on FATF to Take Stronger Action on Russia

    By Editors | 26/02/2024

    Russia has been procuring missiles from Iran and North Korea for use against Ukraine in violation of UN sanctions, the Ukrainian Finance Ministry said.

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    Anti-Money Laundering

    FATF Plenary Concludes With Beneficial Ownership, NPOs, Crypto in Focus

    By Manesh Samtani | 23/02/2024

    Kenya and Namibia were added to the FATF’s grey list while Barbados, Gibraltar, Uganda and the UAE were removed.

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    Anti-Money Laundering

    GCFFC Europe Chapter Sets Financial Crime Priorities for 2024

    By Mark Johnston | 13/02/2024

    The priorities include economic security, beneficial ownership, professional money launderers and public-private partnerships.

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    Clearing & Post-Trade

    ESMA Withdrawal of Recognition for Dubai CCP Takes Effect

    By Editors | 07/02/2024

    Dubai Commodities Clearing Corporation’s appeal of ESMA’s withdrawal decision has been dismissed.

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    Anti-Money Laundering

    Singapore: ACIP Issues AML/CFT Guidance to Address CSP Risks

    By Nithya Subramanian | 07/02/2024

    New ACIP paper offers recommendations for banks that receive customer referrals from corporate service providers.

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    Anti-Money Laundering

    China to Amend AML Law to Address Virtual Asset Risks

    By Manesh Samtani | 01/02/2024

    Draft amendments bring virtual assets into scope. FIs would also be required to assess money laundering risks before adopting new technologies and launching new products.

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    Cryptocurrency

    FSB Workplan Includes Global Push to Implement Crypto Rules

    By Mark Johnston | 25/01/2024

    FSB said that implementation of its recommendations for crypto assets and careful monitoring are essential for the crypto market.

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    Anti-Money Laundering

    India Expands Scope of Financial Services Offered in GIFT City

    By Ajoy K Das | 24/01/2024

    Ministry of finance notifies book-keeping, accounting, taxation and financial crime compliance as services that can be offered in IFSC

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    Fraud, Scams & Cybercrime

    HKMA Proposes to Extend FINEST to Personal Account Data

    By Sanday Chongo Kabange | 24/01/2024

    The HKMA is seeking to extend FINEST, a bank-to-bank information sharing platform launched in June, to allow sharing of personal account information.

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    PEPs & Sanctions

    US Sanctions Prompt Turkish Banks to Reject Russian Payments

    By Editors | 22/01/2024

    Turkish banks are now refusing to accept payments from Russian banks for exports, due to the threat of US sanctions.

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