AML / KYC

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.

AML / KYC

Taiwan P2P Lender Collapses, Operator Arrested for Fraud

By Editors | 05/05/2023

The FSC is investigating five banks that dealt with the P2P lending platform, which was operated as a Ponzi scheme and stole an estimated $81.6mn from investors.

AML / KYC

Chinese Firms Block Overseas Access to Corporate Data – Reports

By Editors | 05/05/2023

Wind Information Co has cut off access to databases containing information about companies’ shareholders, ultimate controllers, affiliates, and other data.

Fintech / Regtech

RBI, BIS Launch G20 TechSprint Focusing on Cross-border Payments

By Editors | 05/05/2023

The 2023 TechSprint will focus on technology solutions to address illicit finance risk, FX and liquidity solutions, and technology for CBDC platforms.

AML / KYC

Sydney Roundtable: More AML Guidance Needed for Capital Markets

By Manesh Samtani | 04/05/2023

Roundtable participants said there is often little attention being paid to money laundering risks by capital market practitioners in Australia.