AML / KYC

AML / KYC

CCDI Draws Lessons on Corruption from Ex-ICBC Bankers

By Darien Choong | 08/11/2021

The two ex-bankers have relaxed risk controls and used customised rules to facilitate loan approvals for certain borrowers in exchange for bribes.

AML / KYC

Australia Launches New Director ID Regime

By Editors | 07/11/2021

Directors will face penalties for not applying for a director ID on time, for providing false ID information, or intentionally applying for multiple director IDs.

AML / KYC

HKMA Launches AMLab Series to Experiment with Network Analytics

By Editors | 07/11/2021

Five banks will work with data experts to experiment with the use of data analytics and network diagrams in identifying suspected money mules.

AML / KYC

CCDI Official Offers Glimpse of PBOC-linked Corruption Cases

By Darien Choong | 07/11/2021

Financial corruption and financial risks are intertwined, said senior inspector Xu Jiaai, speaking about corruption cases involving PBOC officials.

AML / KYC

India Undergoes National Risk Assessment on ML/TF Risks

By Editors | 07/11/2021

Central agencies including the RBI have been tasked with evaluating sectors that are vulnerable to ML/TF risks. India’s mutual evaluation is expected to take place around May 2022.

AML / KYC

MAS Proposes to Ease Retail Investor Access to Funds

By Manesh Samtani | 04/11/2021

Under the changes, only a small group of more complex CIS would continue to be considered complex products and subject to additional disclosure requirements.

AML / KYC

Japan to Require Companies to Disclose Major Shareholders

By Editors | 03/11/2021

Banks will be able to ask companies to submit information about their major shareholders when opening accounts or making loans.

AML / KYC

Trust but Verify: Establishing a Client’s Source of Wealth

By Editors | 01/11/2021

The Pandora Papers provide a stark reminder of the importance of having a robust risk assessment process in place for due diligence and source of wealth checks.

AML / KYC

IFC to Develop e-KYC Infrastructure for Bangladesh

By Editors | 31/10/2021

International Finance Corporation will help Bangladesh’s FIU develop e-KYC infrastructure to advance digital transformation and financial inclusion.