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AML / KYC
AML / KYC
Japan FSA Issues AML/CFT Guidelines for CPAs, Auditors
By Mark Johnston | 19/12/2023
The guidelines require CPAs to verify client identities, keep 7 years of transaction records, provide AML/CFT training to staff, and report suspicious transactions.
AML / KYC
SEBI Simplifies Rules for Obtaining ‘Accredited Investor’ Status
By Ajoy K Das | 19/12/2023
Certain documentary requirements are removed, certification will be granted based solely on KYC and financial information, and the validity period is lengthened.
AML / KYC
HKMA Fines SVF Licensee TNG for AML Compliance Failures
By Sanday Chongo Kabange | 19/12/2023
The HKMA said TNG had no audit trail from MLRO reviews and did not take appropriate steps to assess whether STRs should be filed.
AML / KYC
MAS Suspends Non-Bank, Non-Card Channels for China Remittances
By Editors | 19/12/2023
The move is a response to reports that remittances to China made by individuals in Singapore have been subsequently frozen by mainland law enforcement agencies.
Crypto / Digital Assets
Korea Showing Leadership on Crypto Assets, Says IMF Head
By Mark Johnston | 18/12/2023
Korea is showing leadership by amending its AML law and setting up new legislation on crypto assets, said the IMF’s Kristalina Georgieva.
Crypto / Digital Assets
IOSCO Calls for Stronger Response to Online Threats to Retail Investors
By Manesh Samtani | 17/12/2023
Collaboration is needed between regulators, law enforcement, and stakeholders in the broader online ecosystem like search engine operators and social media platforms.
AML / KYC
Australia Appoints NEW AUSTRAC CEO for Five Year Term
By Editors | 17/12/2023
Brendan Thomas from the NSW Department of Communities and Justice will replace Nicole Rose effective 29 January 2024.
AML / KYC
India, US Pledge to Cooperate on Global Illicit Finance Risks
By Editors | 17/12/2023
Key topics of the joint India-US AML/CFT Dialogue were virtual assets, sanctions implementation, and beneficial ownership transparency.
AML / KYC
HK Amends National Security Law to Facilitate Asset Freezes
By Editors | 15/12/2023
The national security law has been amended to allow assets to be frozen “until the conclusion of the proceedings” such as criminal prosecutions.
AML / KYC
US Congress Passes Foreign Extortion Prevention Act
By Editors | 15/12/2023
The Act prohibits foreign government officials from soliciting or receiving bribes from any person or company under US jurisdiction.
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