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1. Case Management and Audit Trail How easy is it going to be to escalate alerts to more senior staff members, add comments, add attachments and have an audit trail of all activity? Any transaction monitoring system ought to be […]
Knowledge & Training
Transaction monitoring is challenging. Suspicious activity for one customer is normal business for another. Typologies change constantly, false positives dominate compliance teams’ workflow, and the risk of missing something looms large. Commercial pressures around expansion and rapid growth are at […]
Regulations in Hong Kong: The Hong Kong Monetary Authority What is HKMA? As the central banking institution, the Hong Kong Monetary Authority is responsible for maintaining the city’s monetary and banking stability. The Hong Kong Monetary Authority (HKMA) was established […]
Money services businesses provide currency exchange and conversion services for organizations all over the world. Financial institutions that transmit or convert money fall into the classification of ‘Money Services Business’ (MSB). While they provide some of the same services, MSBs […]
To ensure regulatory compliance, financial institutions are required to consult sanctions lists when conducting business with foreign customers. What is a sanctions list? Sanctions lists contain persons, organizations, or countries that are subject to economic sanctions issued by a government […]
What is the Monetary Authority of Singapore (MAS)? The Monetary Authority of Singapore (MAS) was established in 1970 by act of government, beginning operations as the country’s central bank, and financial regulatory authority, on 1 January 1971. Prior to its […]
Is cryptocurrency legal In Australia? Cryptocurrencies: Legal, treated as property Cryptocurrency exchanges: Legal, must register with AUSTRAC In Australia, cryptocurrency, digital currencies, and cryptocurrency exchanges are legal. In addition to this, Australia cryptocurrency regulations and laws are also progressive. The […]
Is cryptocurrency legal in Latin America? Cryptocurrencies: Laws vary by country Cryptocurrency exchanges: Regulation, laws vary by country Latin America cryptocurrency regulations run the legislative spectrum. Those countries with harsher regulations include Bolivia which has comprehensively banned cryptocurrencies and exchanges, […]
Is Cryptocurrency Legal in the EU? Cryptocurrencies: Legal, Euro-backed member-states may be restricted on introducing their own cryptocurrencies. Cryptocurrency exchanges: Regulations may vary by member-state, and by compliance with the European Banking Authority (EBA), European Commission (EC), European Central Bank […]
Is Cryptocurrency Legal in the UK? Cryptocurrencies: Not legal tender Cryptocurrency exchanges: Legal, registration requirements with FCA Cryptocurrency regulations in UK have been measured, but have matured in the post-Brexit financial landscape. Although the UK confirmed in 2020 that crypto […]
Is Cryptocurrency Legal In India? Cryptocurrency in India: Not legal tender Cryptocurrency exchanges: Regulations being considered Cryptocurrency is not legal tender in India. While cryptocurrency in India can be exchanged due to the absence of a robust regulatory framework, a […]
Is Cryptocurrency Legal in China? Cryptocurrencies: Not legal tender Cryptocurrency exchanges: Illegal The People’s Bank of China (PBOC) banned financial institutions from handling Bitcoin transactions in 2013 and went further by banning ICOs and domestic cryptocurrency exchanges in 2017. In […]