AML / KYC

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    AML / KYC

    Singapore Unveils Planned Measures to Strengthen AML Regime

    By Manesh Samtani | 04/10/2023

    The government will set up an inter-ministerial committee to review the AML regime and consider tightening rules for luxury goods, family offices and immigration.

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    Enforcement

    UBS Settles Credit Suisse Liability in Mozambique Bribery Case

    By Editors | 03/10/2023

    The settlement terms have not been made public, but reports say UBS will forgive part of a loan Credit Suisse made to Mozambique in 2013.

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    AML / KYC

    Open Ownership Integrates LEI Into Beneficial Ownership Datasets

    By Editors | 01/10/2023

    LEIs are now embedded into Open Ownership data records, which GLEIF says will allow easier identification of corporate beneficial owners and controllers.

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    Enforcement

    US Regulators Penalise Shinhan Bank for AML Violations

    By Mark Johnston | 01/10/2023

    The US subsidiary of South Korea’s Shinhan Bank will pay a USD 15 million penalty to settle cases from FinCEN, the FDIC, and NYDFS.

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    Fintech / Regtech

    BOT Issues Guidelines on Biometric Technology Adoption

    By Editors | 29/09/2023

    The guidelines introduce six guiding principles to serve as the minimum requirements for financial service providers in applying biometric technology.

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    AML / KYC

    ESMA Withdraws JSE Clear’s Recognition Decision

    By Editors | 29/09/2023

    JSE Clear will no longer be permitted to provide clearing services to clearing members or trading venues in the EU.

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    AML / KYC

    AUSTRAC Issues Customer Identification Guidance for Gambling Providers

    By Sanday Chongo Kabange | 29/09/2023

    From September 2024, online gambling providers must complete applicable customer identification procedures before offering gambling services.

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    Fintech / Regtech

    DBS, UOB Add Anti-Malware Feature to Banking Apps

    By Editors | 28/09/2023

    Last month, OCBC became the first Singapore bank to introduce the new security feature. Citi, DBS and UOB have now also added the feature.

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    AML / KYC

    Indonesia to Sue UK for Share of 2020 Airbus Bribery Settlement

    By Editors | 27/09/2023

    Indonesia plans to sue the UK to annul a billion-dollar settlement Airbus agreed with France, the UK and the US.

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    AML / KYC

    FinCEN to Extend Deadline for New Companies to Report Beneficial Owners

    By Editors | 27/09/2023

    Entities created or registered in 2024 would have 90 days instead of 30 days to file their beneficial ownership reports.

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