AML / KYC

AML / KYC

NZ Court Fines CLSA Premium NZ for AML/CFT Breaches

By Sanday Chongo Kabange | 13/09/2021

The court said CDD requirements were clearly subordinated to the continuation of CLSA Premium NZ’s relationship with high net worth customers.

AML / KYC

NAB Examining Data on 9m Customers to Plug AML, KYC Gaps

By Ranamita Chakraborty | 13/09/2021

Chief executive Ross McEwan outlined NAB’s work to update KYC information for all its customers as part of efforts to meet its AML obligations.

AML / KYC

Three More Korean Crypto Exchanges Secure Deals with Banks

By Editors | 13/09/2021

Bithumb, Coinone, and Korbit will likely meet the 24 September deadline. Korean police are preparing for illegal incidents from exchanges that are forced to close.

AML / KYC

Philippine SEC Disseminates Guidance on Targeted Financial Sanctions

By Editors | 12/09/2021

The guidance now covers targeted financial sanctions related to terrorism, terrorism financing, and proliferation financing, including remedies and relevant UNSC links.

AML / KYC

Philippine AMLC Asks Firms to Provide UBO Information in STRs

By Sanday Chongo Kabange | 10/09/2021

The FATF action plan requires the Philippines to enhance and streamline law enforcement agencies’ access to accurate and up to date beneficial ownership information.

AML / KYC

Taiwan to Revise Authentication Rules to Facilitate Digital Banking

By Editors | 10/09/2021

The new rules allow banks to use biometric authentication methods to fulfill identity authentication requirements for internet-based applications.

Enforcement

Singapore Court Jails Russian National for Deceiving Banks

By Sanday Chongo Kabange | 09/09/2021

The banks were deceived regarding true beneficial ownership in their decision to open bank accounts between 2014 to 2017.

AML / KYC

AUSTRAC Releases Banking Sector Risk Assessments

By Manesh Samtani | 07/09/2021

The big four represent the highest risk due to the scale of retail products and services they offer, particularly those that facilitate cash transactions and rapid funds transfers.

AML / KYC

AUSTRAC Outlines Common Reporting Mistakes – Report

By Editors | 06/09/2021

Reporting mistakes have included incorrectly-used fields, late filings, inconsistent data input, and defensive reporting.