AML / KYC

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    AML / KYC

    Banks Can Perform Re-KYC Process Remotely, Says RBI

    By Editors | 10/01/2023

    If there is no change in a customer’s KYC information, only a self-declaration is required to complete the re-KYC process.

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    AML / KYC

    Korea FSS Offers Guidance for Auditors on Detecting Corporate Fraud

    By Editors | 09/01/2023

    The FSS produced the guidance by analysing three years of cases where fraud and embezzlement were detected by external auditors.

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    AML / KYC

    AUSTRAC: Risk Assessments Must be Alive to Emerging Threats

    By Bradley Maclean | 08/01/2023

    Top official Brad Brown discusses AUSTRAC’s ongoing work to upgrade its reporting system and further advance Australia’s AML/CTF system.

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    Enforcement

    Singapore: Youth Pleads Guilty Over OCBC Phishing Scams

    By Editors | 08/01/2023

    The 19-year-old is the second Singaporean youth to plead guilty for helping an overseas syndicate launder the proceeds from phishing scams against OCBC customers.

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    AML / KYC

    India: KYC Becomes Mandatory for All Insurance Policies

    By Editors | 08/01/2023

    KYC documents have to date not been mandatory for non-life or general insurance policies at the time of purchase.

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    AML / KYC

    BSP Sets Out New Rules for Reporting Financial Crime Risk Events

    By Editors | 06/01/2023

    Banks and NBFIs will have to notify the BSP within 24 hours after they become aware of any significant money laundering, terrorism financing, or proliferation financing risk event.

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    AML / KYC

    Philippines Launches Cyber Safety Campaign for Financial Customers

    By Editors | 05/01/2023

    The BSP and banking industry associations launched a new campaign to improve to cyber hygiene among financial customers.

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    AML / KYC

    NYDFS Ends Coinbase AML Probe With $100m Settlement

    By Editors | 05/01/2023

    The settlement includes a $50mn penalty and a commitment by Coinbase to invest a further $50mn in its compliance programme over the next two years.

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    AML / KYC

    HKMA to Scale Up AML Efforts in 2023: Carmen Chu

    By Bradley Maclean | 04/01/2023

    Executive Director Carmen Chu discusses the actions the HKMA is taking to disrupt AML threats to Hong Kong, and technology initiatives that are making a difference.

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    AML / KYC

    Dutch Banks Start Charging Customers for AML Checks

    By Editors | 04/01/2023

    Companies, associations, charities and churches, among others, are being charged a monthly levy to cover the rising cost of AML checks.

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