FINTRAIL is producing a monthly regulatory summary of any FinCrime changes that may be occurring across APAC.
This issue will cover:
Key updates from regional and local regulators
Key updates from industry guidelines
Additional insights identified from financial intelligence units
May 2021
Key takeaways included guidance separately published by AUSTRAC and the AMLC in the Philippines on effective suspicious activity reporting. Also, Hong Kong is the next APAC jurisdiction to introduce licensing for cryptocurrency exchanges and limiting access to professional investors only. In Thailand, the AMLO has introduced new rules (from September 2021) that require anybody opening a cryptocurrency account to be physically present during account opening.
If you are interested in speaking to the FINTRAIL team about any of the items in the REG-CAP, have any ideas for inclusion or want to discuss any other financial crime topic please get in touch at: contact@fintrail.com