EN
FR
Controlling risk is critical to the overall success of a financial institution. This infographic unpacks what an EWRA looks like and how Australian FinTechs can conduct them consistently across their business and over time.
Asia Pacific
Australia’s government has announced it will prioritize “token mapping” as part of its review of crypto-assets. Treasurer Jim Chalmers and Assistant Minister for Competition, Charities, and Treasury Andrew Leigh argued that “regulation is struggling to keep pace and adapt with […]
Despite the war in Ukraine and the ongoing pandemic, the EU has other pressing policy issues on its collective mind in 2022, of which AML/CFT reform is amongst the most important.
On 15 August 2022, Australia’s Minister of Foreign Affairs announced plans to designate gold as an “import sanctioned good” for Russia under sub-regulation 4A(3) of the Autonomous Sanctions Regulations 2011. The proposed amendment would prohibit the import of gold alongside […]
Accessing banking services in the Philippines has been notoriously difficult for micro, small, and medium enterprises (MSMEs). Due to their limited acceptable collateral and inadequate financial statements and business plans, Filipino MSMEs have historically struggled with the traditional banking system, […]
On August 8, 2022, the US Department of the Treasury’s Office of Foreign Assets Control (OFAC) sanctioned Tornado Cash, a virtual currency mixer, for enabling cybercriminals to launder USD 7 billion in crypto since 2019. According to OFAC’s press release, […]
The Monetary Authority of Singapore (MAS) is currently assessing its approach to stablecoin regulation following the collapse of algorithmic stablecoin TerraUST (UST-USD) in May 2022. According to Central Bank minister Tharman Shanmugaratnam, MAS plans to consult the public in the […]
The Financial Action Task Force (FATF) has released a report highlighting how financial institutions (FIs) can responsibly implement information-sharing initiatives among private sector entities. These initiatives are becoming a key frontier in helping regulators and financial institutions better understand and […]
As FinTechs grow and acquire more customers, their AML/CTF programs must also mature. The firms best set up for success are those with scalable solutions and a sound understanding of AUSTRAC’s expectations of the firms it regulates. This guide provides hands-on tips and best practices for any FinTech looking to scale in Australia.
The Bangko Sentral ng Pilipinas (BSP) has issued guidance for central bank-supervised financial institutions (BSFIs) on conducting institutional risk assessments (IRAs). In addition to setting out firms’ regulatory obligations, the paper offers practical guidance on identifying, analyzing, and understanding the […]
The Australian Federal Police (AFP) has announced a campaign targeting outlaw motorcycle gangs (OMCGs) that have fled to South-East Asia to evade law enforcement. The AFP believes groups including the Comanchero, Hells Angels, Bandidos, and Lone Wolf are responsible for […]
On July 1, 2022, the Financial Action Task Force (FATF) published its objectives for July 2022 – June 2024. Under its new Singapore Presidency, the FATF will prioritize work in the following areas: Strengthening asset recovery Countering illicit finance related […]