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
June 2021
Key takeaways included South Korea has extended its deadline for cryptocurrency services to implement their AML requirements to the end of the calendar year, AUSTRAC have been busy issuing guidance on how to detect and report cuckoo smurfing as well as publishing its non-bank lending and financing sector risk assessment, and the Philippines has issued updated AML/CTF Guidance for DNFBPs.
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