AML / KYC

    AML / KYC

    EBA Issues New Guidelines, Technical Standards for AML/CFT

    By Sanday Chongo Kabange | 23/12/2021

    The guidelines cover supervisory cooperation and risk-based supervision of banks. New draft RTS are published for a new EU-wide database known as EuReCa.

    AML / KYC

    Trade Misinvoicing a Persistent Problem Across Nations: GFI

    By Manesh Samtani | 22/12/2021

    GFI says countries need to make trade misinvoicing illegal at the national level and strengthen law enforcement capacities of customs authorities.

    AML / KYC

    HKMA Fines ePaylinks Technology for AML/CTF Breaches

    By Editors | 20/12/2021

    SVF licensee ePaylinks had deficiencies in its transaction monitoring and name screening systems, and failed to take enhanced measures in high risk situations.

    AML / KYC

    Taiwan Amends AML Rules to Prevent Risk in Overseas Remittances

    By Editors | 19/12/2021

    The amendments specify obligations to ensure policies, procedures and internal controls are in place to prevent risks associated with overseas remittances.

    AML / KYC

    FCA Fines HSBC Over ‘Prolonged’ AML Deficiencies

    By Manesh Samtani | 19/12/2021

    Three key parts of HSBC’s automated transaction monitoring systems showed “serious weaknesses” between March 2010 to March 2018.

    AML / KYC

    New Zealand DIA, FMA Issue Directions on Outsourced CDD

    By Editors | 19/12/2021

    Outsourced CDD does not exist in isolation from reporting entities’ wider CDD procedures and obligations, the DIA and FMA said.

    AML / KYC

    SFC Fines Mason Securities for AML Breaches

    By Editors | 17/12/2021

    In deciding the disciplinary sanction, the SFC took into account the “extensive period of time” over which the failures occurred.

    AML / KYC

    US Treasury Imposes Sanctions on Eight Chinese Tech Firms

    By Editors | 17/12/2021

    Trade restrictions have also been imposed on 34 entities for alleged human rights violations and technology use that ‘undermines US national security’.

    AML / KYC

    Hong Kong, Singapore Authorities Arrest 10 in Joint Operation

    By Manesh Samtani | 16/12/2021

    Six senior executives of Hong Kong listed companies were among those arrested, for operating a cross-border pump-and-dump manipulation scheme.

    AML / KYC

    BSP to Ensure Hacked BDO Accounts Are Reimbursed

    By Mark Johnston | 15/12/2021

    Some 700 customers of BDO Unibank have suffered losses due to a hack. The BSP said it will ensure remedial measures are undertaken.

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