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Cryptocurrency
VASPs Propose Measures to Improve Regulatory Mechanisms for Crypto
By Editors | 28/11/2022
The proposals include a mechanism to allow VASPs to discover one another, so as to better manage counterparty risk and enhance compliance requirements.
Anti-Money Laundering
Japan FSA Recognised for Outstanding Work as AML Regulator
By Editors | 22/11/2022
Financial Services Agency Japan, was recognised as Regulator Project of the Year for its efforts to enhance Japan’s AML/CFT regime.
PEPs & Sanctions
BSP Proposes Draft Regulations on TFS Implementation
By Editors | 10/11/2022
The amendments target terrorist and proliferation financing and are aimed at helping the Philippines secure its removal from the FATF grey list.
Anti-Money Laundering
AML in Japan: Looking Back to Look Forward
By Hiroshi Ozaki | 09/11/2022
The FSA’s Hiroshi Ozaki and Daisuke Mamba look back at the last four and a half years in the fight against money laundering and terrorist financing in Japan.
Anti-Money Laundering
Crypto Being Used to Finance More Terrorist Activities: UN Official
By Editors | 03/11/2022
Up to 20 percent of terrorist attacks are seen as crypto-financed or linked to digital assets, compared to just 5 percent a couple of years ago.
Payments & Settlements
China to Establish RMB Clearing Arrangement in Pakistan
By Editors | 03/11/2022
The arrangement will enable Chinese and Pakistani companies and FIs use RMB in cross-border transactions, thereby promoting trade and investment between the two countries.
Anti-Money Laundering
FATF Consults on New Draft Guidance on Beneficial Ownership
By Editors | 03/11/2022
The FATF is consulting on draft guidance on Recommendation 24 and draft proposals to amend Recommendation 25 and its Interpretive Note until 6 December 2022.
KYC & CDD
NZ DIA Updates CCD Guidance to Address Nominee Structures
By Sanday Chongo Kabange | 01/11/2022
Reporting entities “must” take reasonable steps to verify the existence and name of any nominee director, shareholder or general partner at onboarding.
AI Risk & Governance
NLP for Regulatory Compliance: A Question of When, Not If
By Irene Liu | 27/10/2022
Accenture’s Irene Liu and team discuss the use of NLP technology within compliance functions, as well as the adoption challenges and how to address them.
Anti-Money Laundering
FATF Blacklists Myanmar, Sidelines Russia, De-lists Pakistan
By Manesh Samtani | 23/10/2022
Myanmar is on the FATF “blacklist” alongside Iran and North Korea. Pakistan was removed from the “grey list”.
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