AML / KYC

AML / KYC

India Increasingly Using CNY to Buy Russian Oil

By Editors | 11/07/2023

The relative ease with which Russia can accept yuan payments has led to adoption of the Chinese currency for some 10% of payments.

AML / KYC

US Treasury Asks Hong Kong FIs to Help Prevent Export Control Evasion

By Editors | 11/07/2023

Treasury officials reportedly asked banks to help identify certain high-tech items being shipped to Russia via Hong Kong.

AML / KYC

G7 Forms Joint Task Force to Tackle Corruption in Ukraine

By Editors | 10/07/2023

The G7 nations will collaborate on sharing information and devise strategic approaches to address Ukraine corruption-related challenges.

AML / KYC

NAB Becomes First Aussie Bank to Remove Links From Text Messages

By Sanday Chongo Kabange | 10/07/2023

The move is one of 64 projects completed or underway across NAB to help address the “global scam epidemic”.

AML / KYC

India Allows GST Network to Share Data for AML

By Mark Johnston | 08/07/2023

The GST Network has been added as the 26th entity that must share information with the ED and FIU under the PMLA.

Enforcement

MAS Punished 17 FIs for Breaching AML/CFT Laws in 5 Years

By Karen Ng | 07/07/2023

A total of 20 investigations have been conducted during the time frame 1 June 2018 to 23 June 2023

AML / KYC

Philippine Government Agencies, Departments Ordered to Adopt New AML Strategy

By Ranamita Chakraborty | 07/07/2023

The Philippines is looking to remove itself from the Financial Action Task Force’s “grey list” by improving its efforts in anti-money laundering, counter-terrorism financing, and counter-proliferation.

Capital / Liquidity

BCBS Proposes Revisions to Core Principles for Effective Banking Supervision

By Manesh Samtani | 06/07/2023

The amendments cover a wide range of topics, addressing climate, digitalisation, interest rate risk, cyber risk, counterparty credit risk, and bank culture.

AML / KYC

India: Former Chair of Coop Bank Arrested on Fraud Allegations

By Sanday Chongo Kabange | 06/07/2023

India’s Enforcement Directorate arrested the ex-chairman of Seva Vikas Co-operative Bank in connection with a fraud investigation.