APAC Monthly REG-CAP October 2021

FINTRAIL is producing a monthly regulatory summary of any FinCrime changes that may be occurring across APAC.

This issue will cover:

1. Key updates from regional and local regulators

2. Key updates from industry guidelines

3. Additional insights identified from financial intelligence units

October 2021

The key updates from this month's APAC Reg Cap include the Australian Senate Committee releasing its report on its proposed changes to the crypto legislation and licensing in Australia, HKMA issuing guidance on authentication and fraud prevention controls for simplified electronic direct debit transactions and the PBOC issuing guidance for SMEs on applying a risk based approach when opening online accounts.

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

Europe Monthly REG-CAP September 2021

FINTRAIL is producing a monthly regulatory summary of any FinCrime changes that may be occurring in Europe and beyond.

This one pager will cover:

1. Key updates from global and local regulators

2. Key updates from industry guidelines

3. Additional insights identified from financial intelligence units

September 2021

This months highlights include the UK Home Office's commitment to meeting the Beneficial Ownership Transparency Disclosure Principles.

What other regulations changes caught your eye in September?

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

APAC Monthly REG-CAP September 2021

FINTRAIL is producing a monthly regulatory summary of any FinCrime changes that may be occurring across APAC.

This issue will cover:

1. Key updates from regional and local regulators

2. Key updates from industry guidelines

3. Additional insights identified from financial intelligence units

September 2021

This months APAC Regulatory recap covers the key regulatory updates in the region, including AUSTRAC’s findings from the Australian banking sector, money laundering/terrorist financing risk assessment.

Also, the Philippines Securities and Exchange Commission has issued the new the AMLC Sanctions Guidelines, and Hong Kong's Securities and Futures commission has finalised its AML guidelines for the securities sector which will change the way banks and asset managers onboard clients.

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

Middle East Quarterly REG-CAP Q3 2021

FINTRAIL is producing a quarterly regulatory summary of any FinCrime changes that may be occurring across the Middle East.

This issue will cover:

1. Key updates from regional and local regulators

2. Key updates from industry guidelines

3. Additional insights identified from financial intelligence units

September 2021

Some of these key highlights include:

• The National Committee for Combating Money-Laundering and Financing of Terrorism and Illegal Organisations, has announced the adoption of a regulatory framework for virtual assets in the UAE.

• The Central bank of UAE has published a report on Typologies in the Financial Sector.

• The EU has adopted a framework for targeted sanctions against people and entities “responsible for undermining democracy or the rule of law in Lebanon”

What other developments have caught your eye in the region?

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.co.uk

Europe Monthly REG-CAP August 2021

FINTRAIL is producing a monthly regulatory summary of any FinCrime changes that may be occurring in Europe and beyond.

This one pager will cover:

1. Key updates from global and local regulators

2. Key updates from industry guidelines

3. Additional insights identified from financial intelligence units

August 2021

This months highlights include

• The EBA launched a public consultation on new Guidelines on the role, tasks and responsibilities of anti-money laundering and countering the financing of terrorism compliance officers.

• The consolidated assessment ratings, which were last updated on 30th August 2021, provides an up-to-date overview of the ratings that assessed countries obtained for effectiveness and technical compliance when implementing the FATF recommendations.

• The Office of Foreign Assets Control (OFAC) has published this technical notice​ ​for users of its website and sanctions list data files, regarding the annual renewal of the public certificate securing www.treasury.gov website, including OFAC sanctions list downloads.

• The FCA has published a reminder to firms about the potential financial crime risks linked to Afghanistan and the continuing need for robust systems and controls that respond to changing risks.

What other regulations changes caught your eye in August?

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

APAC Monthly REG-CAP August 2021

FINTRAIL is producing a monthly regulatory summary of any FinCrime changes that may be occurring across APAC.

This issue will cover:

1. Key updates from regional and local regulators

2. Key updates from industry guidelines

3. Additional insights identified from financial intelligence units

August 2021

This month South Korea looks to establish an independent bureau under its FIU responsible for all digital currency and crypto matters, Australia is set to update its sanctions laws, the Philippines AMLC has released guidance on targeted financial sanctions and China and the UAE have agreed to share intelligence to fight money laundering and terrorism financing. Here are just some updates across the region in August!.

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

Europe Monthly REG-CAP July 2021

FINTRAIL is producing a monthly regulatory summary of any FinCrime changes that may be occurring in Europe and beyond.

This one pager will cover:

1. Key updates from global and local regulators

2. Key updates from industry guidelines

3. Additional insights identified from financial intelligence units

July 2021

This months highlights include:

• HM Treasury has launched a consultation on amendments to the Money Laundering, Terrorist Financing and Transfer of Funds Regulations.

• The EBA and ESMA published final guidance on the assessment of the suitability of members of the management body, particularly with regard to money laundering and financing terrorism risks, and gender diversity.

• The European Commission published a package of legislative proposals to strengthen their fight against money laundering and terrorist financing..

• The FATF released three new documents this month focussed on technology solutions.

What other regulations changes caught your eye in July?

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

APAC Monthly REG-CAP July 2021

FINTRAIL is producing a monthly regulatory summary of any FinCrime changes that may be occurring across APAC.

This issue will cover:

1. Key updates from regional and local regulators

2. Key updates from industry guidelines

3. Additional insights identified from financial intelligence units

July 2021

This month we have seen regulators in Hong Kong and Thailand clampdown on unregulated cryptocurrency activity issuing warnings that all virtual asset exchanges must be licensed to offer services. There have been changes to New Zealand's AML/CTF rules which came into force in the beginning of July and AUSTRAC, and the Monetary Authority of Singapore are seeking public consultation on amendments to their AML/CTF rules.

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

APAC Monthly REG-CAP June 2021

FINTRAIL is producing a monthly regulatory summary of any FinCrime changes that may be occurring across APAC.

This issue will cover:

1. Key updates from regional and local regulators

2. Key updates from industry guidelines

3. 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

Europe Monthly REG-CAP June 2021

FINTRAIL is producing a monthly regulatory summary of any FinCrime changes that may be occurring in Europe and beyond.

This one pager will cover:

1. Key updates from global and local regulators

2. Key updates from industry guidelines

3. Additional insights identified from financial intelligence units

June 2021

This Reg-Cap summarises the main regulatory updates and reports released in June 2021.

What other regulations changes caught your eye in June?

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

Middle East Quarterly REG-CAP Q2 2021

FINTRAIL is producing a quarterly regulatory summary of any FinCrime changes that may be occurring across the Middle East.

This issue will cover:

1. Key updates from regional and local regulators

2. Key updates from industry guidelines

3. Additional insights identified from financial intelligence units

June 2021

The UAE has once again been busy, issuing new regulations and consultations on AML, FinTechs, crypto and enabling technologies. Crypto is also in the spotlight in Turkey, while in Jordan parliament is introducing a draft new AML/CTF law in response to the latest FATF evaluation.

What other developments have caught your eye in the region?

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.co.uk

APAC Monthly REG-CAP May 2021

FINTRAIL is producing a monthly regulatory summary of any FinCrime changes that may be occurring across APAC.

This issue will cover:

1. Key updates from regional and local regulators

2. Key updates from industry guidelines

3. 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

Europe Monthly REG-CAP May 2021

FINTRAIL is producing a monthly regulatory summary of any FinCrime changes that may be occurring in Europe and beyond.

This one pager will cover:

1. Key updates from global and local regulators

2. Key updates from industry guidelines

3. Additional insights identified from financial intelligence units

May 2021

This Reg-Cap summarises the main regulatory updates and reports released in May 2021.

What other regulations changes caught your eye in May?

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

APAC Monthly REG-CAP April 2021

FINTRAIL is producing a monthly regulatory summary of any FinCrime changes that may be occurring across APAC.

This issue will cover:

1. Key updates from regional and local regulators

2. Key updates from industry guidelines

3. Additional insights identified from financial intelligence units

April 2021

This Reg-Cap summarises the main regulatory updates and reports released in April 2021 across APAC. Some key highlights include the release of New Zealand’s FATF Mutual Evaluation Report (MER), introduction of Macau’s digital currency to combat tax evasion and money laundering in the gaming hub and Japan announcing it will implement the FATF travel rule for the nations crypto industry by April 2022.

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.co.uk

Europe Monthly REG-CAP April 2021

FINTRAIL is producing a monthly regulatory summary of any FinCrime changes that may be occurring in Europe and beyond.

This one pager will cover:

1. Key updates from global and local regulators

2. Key updates from industry guidelines

3. Additional insights identified from financial intelligence units

April 2021

This Reg-Cap summarises the main regulatory updates and reports released in April 2021.

Some highlights include, the FCA provided clarification on warning list expectations, Europol published its latest SOCTA, the EU announced its AML 5 year roadmap and FinCEN has issued a new request for information on risk management.

What other regulations changes caught your eye in April?

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.co.uk

APAC Monthly REG-CAP March 2021

FINTRAIL is producing a monthly regulatory summary of any FinCrime changes that may be occurring across APAC.

This issue will cover:

1. Key updates from regional and local regulators

2. Key updates from industry guidelines

3. Additional insights identified from financial intelligence units

March 2021

This Reg-Cap summarises the main regulatory updates and reports released in March 2021 across APAC. Some key highlights include the Monetary Authority of Singapore (MAS) publishing new guidance on strengthening AML/CFT controls for Digital Payment Token (DPT) Service Providers, and the Australian regulator, AUSTRAC, publishing a number of regulatory guides for reporting entities on how to strengthen their AML/CFT programmes.

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.co.uk

Europe MONTHLY REG-CAP March 2021

FINTRAIL is producing a monthly regulatory summary of any FinCrime changes that may be occurring in Europe and beyond.

This one pager will cover:

1. Key updates from global and local regulators

2. Key updates from industry guidelines

3. Additional insights identified from financial intelligence units

March 2021

This Reg-Cap summarises the main regulatory updates and reports released in March 2021.

Some highlights include an interesting update from HM Treasury, with their advisory notice on high risk third countries. The European Banking Authority also published three new instruments on de-risking and FATF has published lots of guidance - including on virtual assets.

What other regulations changes caught your eye in March?

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.co.uk

Middle East Quarterly REG-CAP Q1 2021

FINTRAIL is producing a quarterly regulatory summary of any FinCrime changes that may be occurring across the Middle East.

This issue will cover:

1. Key updates from regional and local regulators

2. Key updates from industry guidelines

3. Additional insights identified from financial intelligence units

March 2021

Some key highlights include Saudi Arabia’s announcement of an open banking framework, an MoU to allow crypto firms to set up in Dubai, and numerous UAE government efforts to strengthen the national AML/CTF programme.

What other developments have caught your eye in the region?

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.co.uk

APAC Monthly REG-CAP Feb 2021

FINTRAIL is producing a monthly regulatory summary of any FinCrime changes that may be occurring across APAC.

This issue will cover:

1. Key updates from regional and local regulators

2. Key updates from industry guidelines

3. Additional insights identified from financial intelligence units

February 2021

This Reg-Cap summarises the main regulatory updates and reports released in February 2021 across APAC. Some key highlights include changes to the AML regulations in the Philippines in an attempt to avoid being grey-listed by FATF, reforms to Thailands digital asset sector regulations and proposed amendments to Australia’s AML/CFT laws open for public comment.

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.co.uk

Europe MONTHLY REG-CAP Feb 2021

FINTRAIL is producing a monthly regulatory summary of any FinCrime changes that may be occurring in Europe and beyond.

This one pager will cover:

1. Key updates from global and local regulators

2. Key updates from industry guidelines

3. Additional insights identified from financial intelligence units

February 2021

This Reg-Cap summarises the main regulatory updates and reports released in February 2021.

Some highlights include the new UK Government Trust Framework on digital identity, updates to sanctions regimes following the military coup in Myanmar, outcomes from the FATF plenary, and Transparency International calling on global beneficial ownership standards.

What other regulations changes caught your eye in February?

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.co.uk