AML / KYC

AML / KYC

LME Considers Banning Russian Metals from Warehouses

By Editors | 08/10/2022

Even without direct sanctions, a significant number of metals consumers are expressing an unwillingness to accept Russian metal in 2023, LME says.

AML / KYC

ACRA Implements Requirements to Disclose Nominees, Controllers

By Editors | 08/10/2022

Local and foreign companies are required to maintain a register of nominee shareholders, and lodge information on their controllers with ACRA.

AML / KYC

AUSTRAC Issues Guidance on SoF and SoW Checks

By Sanday Chongo Kabange | 07/10/2022

When performing SoF and SoW checks, reporting entities must avoid the misconception that money coming from a bank can be presumed to be clean.

AML / KYC

Singapore Passes Amendments to Accountants Act

By Manesh Samtani | 06/10/2022

ACRA is empowered to conduct inspections on accounting entities, compel them to remediate lapses identified, and impose sanctions when necessary.

AML / KYC

Hong Kong Police Launch New Anti-Fraud Search Engine

By Editors | 06/10/2022

Dubbed ‘Scameter’, the search engine allows members of the public to check information such as bank account numbers and email addresses for previous links to scams.

AML / KYC

European Council Adopts Eighth Russia Sanctions Package

By Editors | 06/10/2022

The package completely bans the provision of crypto wallets, accounts, or custody services to Russian nationals and entities, among other measures.

AML / KYC

Singapore Passes Amendments to Business Trusts Act

By Editors | 05/10/2022

Unlisted business trusts will have to obtain and maintain information on the beneficial owners of units, and provide this information to authorities upon request.

AML / KYC

Basel AML Index: Progress in AML/CFT Remains “Paralysed”

By Editors | 05/10/2022

New Zealand, Australia, Taiwan and Singapore received the best ML/TF risk scores among APAC jurisdictions in the latest Basel AML Index.

AML / KYC

Australian Regulators Propose Measures to Address De-Banking

By Editors | 04/10/2022

A CFR policy paper provides four recommendations to address de‑banking of fintechs, crypto exchanges and remittance firms.