Financial Action Task Force

Anti-Money Laundering

US, EU Push for UAE Removal from FATF Gray List

By Editors | 23/06/2023

Some officials have reportedly been pushing for UAE to be removed from the FATF’s grey list. The country could be removed in as soon as a few months.

Anti-Money Laundering

Indonesia OJK Issues New AML/CFT/CPF Regulations

By Sanday Chongo Kabange | 22/06/2023

OJK’s Mahendra Siregar said the new regulations are aligned with the FATF standards, and will help Indonesia become a FATF member.

Anti-Money Laundering

AMLC Sheds Light on Terrorism Financing Threats Facing Philippines

By Editors | 21/06/2023

New risk assessment highlights the use of social media platforms and cryptocurrencies by terrorist groups to raise funds.

Tokenisation

Japan Introduces New Tax Rules for Token Issuers

By Mark Johnston | 20/06/2023

The new tax rules exempt issuers from paying taxes on unrealised gains on tokens they issue and hold.

PEPs & Sanctions

Philippines Steps Up Efforts to Exit FATF ‘Grey’ List

By Ranamita Chakraborty | 20/06/2023

The Philippines’ Anti-Money Laundering Council’s executive director Matthew M. David talks to Regulation Asia about its action plan to take the country out of the Financial Action Task Force’s ‘Grey’ List.

Cryptocurrency

HKMA Meets with Crypto Firms on Banking Access Challenges

By Karen Ng | 19/06/2023

Banks operating in Hong Kong should endeavour to meet the legitimate business need of licensed VASPs, the HKMA told Regulation Asia.

Anti-Money Laundering

India to Bring Lawyers Under AML Regime – Report

By Editors | 16/06/2023

Lawyers have reportedly expressed concerns that the plan would have an adverse impact on client attorney privilege.

Anti-Money Laundering

Experts Critical of FATF Effectiveness in Combating Kleptocracy

By Manesh Samtani | 14/06/2023

Panellists at a high-level conference expressed concern that countries with strong connections and clout received lenient treatment from the FATF.

PEPs & Sanctions

Sanctions Enforcement Not a ‘Credible Threat’: RUSI Roundtable

By Manesh Samtani | 12/06/2023

Roundtable participants said lessons should be learnt from the significant penalties that drove banks to observe the Iran sanctions regimes.