Financial Action Task Force

PEPs & Sanctions

State Bank of Pakistan to Clarify Rules for Politically Exposed Persons

By Editors | 20/08/2015

Government officials have ordered the State Bank of Pakistan to stop commercial banks from misusing the term ‘politically exposed persons’ (PEPs) to deny financial services to citizens.

Cryptocurrency

Japan to Introduce Registration System for Virtual Currency Exchange Operators

By Editors | 07/08/2015

Japan’s Financial Services Agency is considering introducing regulations for trading bitcoins and other virtual currencies, possibly through a registration system for operators.

Anti-Money Laundering

Singapore Regulator Reiterates Commitment Against Money Laundering and Terrorism Financing

By Editors | 20/07/2015

The Monetary Authority of Singapore has outlined Singapore’s anti-money laundering regime, reiterating its commitment to safeguarding its financial system.

Anti-Money Laundering

Japan, China, U.S. Jointly Push FATF on Virtual Currency Regulation

By Editors | 18/06/2015

Financial authorities of Japan, the United States and China plan to establish joint regulations to prevent the use of virtual currencies to finance illegal activities such as terrorism.

Anti-Bribery & Corruption

Anti-Corruption Practices Must Encompass Entire Banking Process

By Peter Guy | 09/06/2015

Expanding due diligence capabilities will require strong data and information resources.

Anti-Money Laundering

Regulatory Advisory Firm Bovill Names New Head for Asia

By Editors | 11/05/2015

Specialist financial services regulatory consultancy Bovill said it named Eddie Lim as new head of Bovill Asia.

Anti-Money Laundering

The Risk of De-Risking

By Editors | 02/04/2015

Complying with anti-money laundering regulations while protecting the bottom line.

Structural Regulation

Singapore, UK Open Dialogue on Offshore RMB, Islamic Finance

By Editors | 02/02/2015

Singapore has opened discussions with the United Kingdom on deepening cooperation on financial regulatory reforms and market developments on offshore renminbi (RMB), infrastructure funding, Islamic finance, insurance, and asset management.

Anti-Money Laundering

Singapore Tightens Rules Against Money Laundering and Terrorist Financing

By Editors | 19/07/2014

The Monetary Authority of Singapore is requiring banks and other financial institutions to perform a risk assessment on money laundering and terrorist financing at a wider institutional level, beyond the assessment of individual customers.