AML / KYC

AML / KYC

India Brings Company Formation Agents into Scope of AML Law

By Sanday Chongo Kabange | 11/05/2023

Persons who act as formation agents, directors, trustees and nominee shareholders for companies and LLPs are brought into scope.

AML / KYC

Australia Budget Offers Funding for AML, Scams, Cyber

By Manesh Samtani | 10/05/2023

Funding is provided to AUSTRAC, the Attorney-General’s Department, ASIC, the ACCC, and the launch of an SMS Sender ID Registry.

AML / KYC

MAS to Consult on Scam Loss Sharing Framework in Q3

By Manesh Samtani | 09/05/2023

Senior Minister Tharman Shanmugaratnam said the framework will include obligations for telcos, not just FIs and consumers.

AML / KYC

HK Police Launch Advisory Panel to Help Combat Cybercrime

By Editors | 09/05/2023

The panel members will share recent technological developments, information on potential threats, and practical advice on police technologies.

AML / KYC

Singapore Passes Bill to Enable Data Sharing via COSMIC

By Editors | 09/05/2023

COSMIC will be rolled out in phases starting from H2 2024, enabling banks to alert one another about illicit activity involving their customers.

AML / KYC

HKMA Calls for Broader Adoption of Network Analytics by Banks

By Manesh Samtani | 09/05/2023

Around 60 percent of retail banks in Hong Kong are now deploying network analytics. Some are using this capability to file “super STRs”.

AML / KYC

HK Companies Registry Issues AML Guidance for TCSP Licensees

By Editors | 09/05/2023

New guideline seeks to help trust or company service providers devise and implement policies, procedures and controls for AML/CTF.

AML / KYC

India Amends Laws Governing Accountants, Company Secretaries

By Editors | 05/05/2023

Chartered accountants, company secretaries, and cost and work accountants will have to maintain records of all financial transactions for clients.

AML / KYC

RBI Updates Master Direction on KYC for Wire Transfers

By Sanday Chongo Kabange | 05/05/2023

The revised master directions highlight the need for all wire transfers to be accompanied by accurate and complete originator and beneficiary information.