AML / KYC

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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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    AML / KYC

    Anti Fraud: Korea Launches Bulk Account Suspension Service

    By Editors | 04/01/2023

    The new service allows financial consumers to suspend payments from all of their accounts at banks and non-banks at once.

    AML / KYC

    SEC Philippines Increases Penalties for UBO Non Disclosure

    By Editors | 30/12/2022

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

    AML / KYC

    Isle of Man, Guernsey, Jersey Pause Work on UBO Registers

    By Editors | 30/12/2022

    Further legal advice is needed following the November judgment by the EU Court of Justice, which found public access to UBO information interferes with the right to privacy.

    AML / KYC

    SFC to Collect More Granular Data from Licenced Firms

    By Manesh Samtani | 30/12/2022

    Many of the new questions in the SFC’s updated BRMQ focus on AML/CFT practices and brokerage business controls.

    Fintech / Regtech

    EU Commission Approves Pilot Use Cases for Digital ID Wallet

    By Editors | 27/12/2022

    The approved pilots cover payments, travel, and business compatibility. The EU Digital Identity Wallet is expected to go live in 2024.

    AML / KYC

    FTX, Alameda Execs Plead Guilty to US Fraud Charges

    By Manesh Samtani | 23/12/2022

    Caroline Ellison and Gary Wang are cooperating with the investigation into FTX, Alameda and Sam Bankman-Fried, who has been extradited to the US.

    AML / KYC

    Co-Founder of OneCoin Pleads Guilty to Fraud

    By Editors | 22/12/2022

    Karl Sebastian Greenwood faces a maximum of 60 years in person. Co-conspirator Ruja Ignatova is on the FBI’s most wanted list.

    AML / KYC

    Head of German FIU Resigns Over Secret SAR Backlog – Report

    By Editors | 22/12/2022

    The German FIU was sitting on more than 100,000 unprocessed SARs which it did not disclose to the FATF during its mutual evaluation.

    AML / KYC

    Bangladesh Banks Under Scrutiny for Alleged Loan Scams

    By Editors | 22/12/2022

    Bangladesh Bank directed five banks to submit daily reports on loan disbursements. Two of the banks have observers appointed to monitor operations.

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