AML / KYC

AML / KYC

Korea to Increase Scrutiny of Money Laundering Risks via Crypto

By Editors | 27/10/2022

The FSC will increase scrutiny of crypto tokens listed by just a single VASP, stablecoin transaction volumes, and customers making large deposits.

AML / KYC

NLP for Regulatory Compliance: A Question of When, Not If

By Irene Liu | 27/10/2022

Accenture’s Irene Liu and team discuss the use of NLP technology within compliance functions, as well as the adoption challenges and how to address them.

AML / KYC

Hong Kong Customs Arrests Two for Laundering HK$3.5bn

By Editors | 27/10/2022

The money was laundered by reselling precious metals. The case is the largest-ever money laundering case for Hong Kong Customs.

AML / KYC

RBI Grants First Vostro Approvals to Russian Banks

By Editors | 26/10/2022

Sberbank and VTB Bank have been granted approval to open vostro accounts in India to settle rupee trade transactions.

AML / KYC

UK: Industry Calls for Clear Rules on Data Sharing to Combat Scams

By Mark Johnston | 26/10/2022

RUSI and Stop Scams UK say policy changes are needed to allow data sharing for the purpose of combatting scams.

AML / KYC

NZ DIA Lists Common Areas of AML Non-Compliance

By Editors | 24/10/2022

Common areas of non-compliance related to AML/CFT risk assessments, staff training, PEP identification, and compliance monitoring, among other areas.

AML / KYC

Singapore Jails Former Bank Officer Over Shell Company Setups

By Editors | 24/10/2022

The former bank officer recruited nominee directors to set up shell companies and open bank accounts for use by unidentified individual based overseas.

Enforcement

Philippine SEC Sets Out Penalties for Disclosure Violations

By Mark Johnston | 24/10/2022

Directors, trustees, and officers can be fined personally and barred for five years for failure to ensure compliance with beneficial ownership disclosure requirements.

AML / KYC

Sri Lanka Will Not Adopt Russia’s Mir Card Scheme

By Editors | 23/10/2022

The CBSL said it is not in a position to consider Russia’s request to operate the Mir card scheme in Sri Lanka, due to US sanctions.