RegWatch - Edition #9
Your weekly briefing on regulation, risk, financial crime, and compliance matters
Regulatory Recap
US preferred hub for corrupt financial transactions; Dubai, Hong Kong replace Panama as OCG centers, claims UK university report
Researchers found evidence suggesting organized crime networks increasingly move their money through Hong Kong and Dubai, instead of Panama. Read more
FCA chair accused of revealing identity of internal whistleblower
Ashley Alder, FCA chair, has been accused of revealing the identity of an internal whistleblower despite the regulator's policy to protect their identity. Read more
US Treasury criticized for ‘substantially’ underestimating new bank account compliance burden
American Bankers Association calls for reform of customer identification rules. Read more
Swiss banks turn on instant payments system
Consumers in Switzerland can now send and receive payments in seconds following the market launch of instant payments across the banking industry. Read more
China's supreme court alters AML law to encompass virtual assets
The Supreme People’s Court of the People’s Republic of China (SPC) has reworked its interpretation of the region’s AML laws to include virtual asset transactions. Read more
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