AML / KYC

AML / KYC

Korean VASPs Barred From Trading Native Tokens

By Sanday Chongo Kabange | 29/09/2021

A new conflict of interest rule bars VASPs from trading native tokens and their staff from trading virtual assets on their own platforms.

AML / KYC

Hong Kong Sees Spike in Investment Scam Losses – Report

By Editors | 29/09/2021

Victims lost HKD 2.5 billion from investment scams between January and July, a 20-fold increase compared to the same period last year.

AML / KYC

AUSTRAC Outlines Planned Enhancements to Reporting System

By Editors | 29/09/2021

A four-year transformation programme will introduce a “modern and intuitive user interface” and high-speed channels for file uploads, among other changes.

AML / KYC

HKMA Identifies AML/CFT Gaps in Stored Value Facilities

By Sanday Chongo Kabange | 27/09/2021

The HKMA flagged issues related to risk assessments, business partner arrangements, customer risk assessments, and transaction monitoring.

AML / KYC

US DOJ Agrees to Release of Huawei’s Meng Wanzhou

By Editors | 27/09/2021

Under a deferred prosecution agreement, Meng admitted to making material misrepresentations to HSBC regarding Huawei’s operations in Iran.

AML / KYC

Korea: 29 Crypto Exchanges Meet Registration Deadline

By Manesh Samtani | 26/09/2021

The applications will be processed within three months, following which approved exchanges will be subject to AML rules announced in March.

AML / KYC

Crypto Should Re-examine Relationship with Regulators, and Vice Versa

By Andy Meehan | 25/09/2021

Andy Meehan says greater collaboration is needed between industry players and regulators to advance ‘sensible’ regulation and ensure the public is properly educated.

AML / KYC

China Targets Corruption with New Supervision Law

By Sanday Chongo Kabange | 25/09/2021

Supervisors are asked to crack down on the use of offshore companies and underground banks to transfer illegal income and property involved in duty-related crimes.

AML / KYC

FATF Report Highlights Opportunities for Japan’s FIs

By Matthew Field | 24/09/2021

Matthew Field discusses how Japan’s FIs can enhance the maturity of their AML programmes through a data-driven approach that places the customer entity in focus.