AML / KYC

AML / KYC

HKMA, SFC Offer New Guidance on Suitability Obligations

By Manesh Samtani | 30/07/2023

HKMA and SFC say intermediaries can tailor their point-of-sale procedures to the personal circumstances of sophisticated professional investors.

AML / KYC

KoFIU is Ramping Up Efforts to Combat Crypto-related Crime

By Manesh Samtani | 30/07/2023

KoFIU will strengthen inspections, impose sanctions for violations, and disclose the results of investigations to promote legal compliance.

AML / KYC

Worldcoin’s Global Launch Raises Regulatory Concerns

By Editors | 29/07/2023

UK, French and German regulators are looking into privacy concerns associated with Worldcoin’s iris-scanning data collection practices.

AML / KYC

UK Updates Guidance to Implement Travel Rule for Cryptoasset Transfers

By Editors | 29/07/2023

The proposed guidance specifies the information on originators and beneficiaries that crypto exchanges and wallet providers must send, receive and verify as part of a cryptoasset transfer.

Enforcement

Taiwan Telecoms Fined for Failing to Prevent Exploitation by Scammers

By Sanday Chongo Kabange | 28/07/2023

Taiwan Star and Strait-Telecom were fined for failing to check and verify the identities of service applicants, a breach of the Telecommunications Management Act.

AML / KYC

SEBI Mandates LEI for All Non-Individual FPIs

By Editors | 27/07/2023

SEBI is requiring foreign portfolio investors to include their LEI in registration and account opening forms.

AML / KYC

Korea Securities Depository to Promote LEI Adoption in Crypto Market

By Sanday Chongo Kabange | 27/07/2023

The KSD and Code have signed a business agreement to promote the issuance and use of LEIs in the virtual asset market.

AML / KYC

US Agencies Call on Firms to Self-Disclose Sanctions Violations

By Editors | 27/07/2023

Self-reporting of sanctions and export controls violations make companies potentially eligible for “significant mitigation”.

AML / KYC

Australia: National Digital ID System Could Launch Within 12 Months

By Editors | 27/07/2023

Australia’s national digital ID system to revolutionise identity verification, streamline processes and enhance security.