AML / KYC

AML / KYC

US to Gather 30 Countries to Coordinate Ransomware Response

By Editors | 06/10/2021

The Counter-Ransomware Initiative is aimed at improving law enforcement collaboration and stemming the illicit use of cryptocurrency.

Big Picture

Lack of Crypto Regulation Presents Financial Stability Risk: IMF

By Mark Johnston | 05/10/2021

The IMF says more coordination among national regulators is needed to ensure effective enforcement, reduce regulatory arbitrage, and enhance monitoring of the crypto ecosystem.

AML / KYC

ESG Due Diligence: Setting a High Water Mark

By Manesh Samtani | 05/10/2021

Refinitiv’s Wendy De Cruz talks to Regulation Asia about new supply chain laws reshaping industries and the challenges FIs face in enhancing due diligence practices.

AML / KYC

Pandora Papers Expose Offshore Wealth of Public Officials

By Manesh Samtani | 05/10/2021

Some 35 current and former leaders are featured in the Pandora Papers leak, which contains 11.9 million documents from 14 offshore services firms.

AML / KYC

PBOC Directs Banks to Offer ‘Simple’ Account Opening

By Editors | 03/10/2021

Banks are asked to relax documentary requirements and provide simple personal account opening services, making use of external data to verify customer identities.

AML / KYC

MAS to Deploy Information Sharing Platform for AML/CFT

By Manesh Samtani | 03/10/2021

The COSMIC platform will be developed and deployed in phases. The initial participants are DBS, OCBC, UOB, StanChart, Citibank and HSBC.

AML / KYC

BSP Updates e-KYC Guidelines for Financial Institutions

By Ranamita Chakraborty | 03/10/2021

The guidelines include national digital ID system PhilSys as an accepted method for verifying customer identities, subject to proper authentication.

AML / KYC

AFP Wins First Asset Confiscation Case Under Operation Ironside

By Editors | 01/10/2021

A$6mn in cash obtained as a result of the forfeiture order will be redistributed to support crime prevention, law enforcement and related community initiatives.

AML / KYC

NZ FMA Toughens Approach to AML Non-Compliance

By Manesh Samtani | 30/09/2021

The FMA’s James Greig noted a lower tolerance for AML/CFT non-compliance, given the regime has been in place for eight years.