AML / KYC

    AML / KYC

    Ransomware Payments May Breach OFAC Regulations

    By Sanday Chongo Kabange | 03/10/2020

    OFAC makes clear in a new advisory that it may impose civil penalties if ransomware payments are made to sanctioned individuals or entities.

    AML / KYC

    BitMEX Founders Charged for Evading AML Requirements

    By Editors | 03/10/2020

    Four individuals were charged for “willfully” failing to establish, implement, and maintain an adequate AML programme that included a KYC component.

    AML / KYC

    Australia to Allocate A$800m to Digital Initiatives in Budget

    By Editors | 02/10/2020

    The plan includes the development of a digital identity system, modernisation of business registers, rollout support for the CDR, and regtech/fintech initiatives.

    AML / KYC

    FATF Upgrades China on Three Recommendations in Follow-up

    By Manesh Samtani | 01/10/2020

    This is to reflect progress on regulating online lending, guidance issued to online lending and other DNFBP sectors, and China’s prohibition on virtual asset activities.

    AML / KYC

    Taiwan to Set New AML/CFT Rules for Accountants

    By Editors | 01/10/2020

    Accountants will not be allowed to establish business relationships or conduct transactions with clients until their identities and actual beneficiaries are verified.

    AML / KYC

    BSP Set to Issue Revised Rules on Virtual Assets

    By Sanday Chongo Kabange | 30/09/2020

    The revisions are aimed at addressing identified gaps and aligning the framework with FATF guidance for regulating VASPs.

    AML / KYC

    HKMA to Enhance AML/CFT Supervision Through Data & Tech

    By Manesh Samtani | 29/09/2020

    The HKMA intends to increase its engagement and data collection, make better use of data, and utilise suptech tools to enhance its AML/CFT supervision.

    AML / KYC

    US Law Firms Look to Capitalise from FinCEN Files

    By Editors | 29/09/2020

    US law firms are inviting investors to participate in class actions if they lost money in HSBC and StanChart stock following the release of the FinCEN Files.

    AML / KYC

    GLEIF Defines New Framework to Simplify, Accelerate LEI Issuance

    By Manesh Samtani | 29/09/2020

    Many of the labor intensive and time-consuming procedures performed to obtain an LEI are the same as those performed by the FI during onboarding.

    AML / KYC

    The New Cold War Is Financial

    By Tom Keatinge | 29/09/2020

    Banks and financial infrastructure are emerging as an expanding front in geopolitics, writes RUSI’s Tom Keatinge.

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