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PEPs & Sanctions
AMLC Philippines Launches Review of Sanctions Screening Practices
By Editors | 26/04/2022
The AMLC has partnered with AML Analytics as its testing and validation partner to conduct a thematic review of customer- and transaction-screening systems at FIs and DNFBPs.
Cryptocurrency
European Crypto Firms Push Back Against Proposed Regulations
By Editors | 24/04/2022
Crypto firms say requiring them to disclose transaction details and wallet addresses will undermine the privacy and safety of digital asset owners.
Anti-Money Laundering
FATF Vows ‘Swift and Decisive Action’ on Effectiveness
By Editors | 22/04/2022
The commitment includes action to promptly implement global beneficial ownership rules and increase countries’ capabilities to recover criminal assets.
Emerging Prudential Risks
FSB Warns of Emerging Vulnerabilities, Financial Stability Risks
By Manesh Samtani | 21/04/2022
Global financial stability cannot be taken for granted going forward, FSB Chair Klaas Knot said in a letter to G20 Finance Ministers and Central Bank Governors.
Anti-Money Laundering
Countries Must ‘Redouble Efforts’ to Fight Financial Crime: FATF
By Manesh Samtani | 19/04/2022
The FATF finds that countries have made “huge progress” in improving technical compliance, but many still face substantial challenges in taking effective action.
Cryptocurrency
Hong Kong is Moving to a Robust Regulatory Framework for Crypto
By Etelka Bogardi | 19/04/2022
Etelka Bogardi and Amy Chung say Hong Kong’s efforts to regulate the crypto sector and stablecoin market are on the whole in line with international trends while leaving room for further development.
Anti-Money Laundering
FSA Offers Update on Work to Strengthen Japan’s AML System
By Manesh Samtani | 17/04/2022
Discussions are underway on the implementation of a new shared transaction monitoring and screening system. A new ‘beneficial ownership list system’ has been established.
PEPs & Sanctions
India Introduces Bill to Outlaw Proliferation Financing
By Sanday Chongo Kabange | 07/04/2022
The Bill will also give the government powers to freeze, seize or attach funds or other financial assets or economic resources to prevent WMD financing.
KYC & CDD
EU Lawmakers Vote to Adopt KYC Rules for Unhosted Crypto Wallets
By Darien Choong | 04/04/2022
The European Parliament voted to adopt requirements for crypto firms to gather and verify personally identifiable information of users of unhosted crypto wallets.
Anti-Money Laundering
Australia a ‘Laggard on the World Stage’, Senate AML Inquiry Finds
By Manesh Samtani | 31/03/2022
Senate committee warns that the government’s failure to bring lawyers, accountants and real estate professionals into the AML/CFT regime is harming Australians.
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