AML / KYC

    AML / KYC

    IMF Publishes Guide to Beneficial Ownership Transparency

    By Editors | 18/10/2022

    Despite guidance issued by the FATF over the years, effective implementation of beneficial ownership requirements is still a challenge for many countries, says the IMF’s Bo Li.

    AML / KYC

    NSW Regulator Imposes Max Penalty on Casino Giant The Star

    By Editors | 18/10/2022

    Casino giant The Star has been fined A$100mn and had its licence in NSW suspended due to its failure to prevent money laundering at its Sydney casino.

    AML / KYC

    Japan Cabinet Passes Bill to Strengthen AML System

    By Editors | 18/10/2022

    Crypto exchanges will be obliged to share information on users and screen customers against sanctions lists.

    AML / KYC

    HSBC Suspends Investment Services for Russian Clients in Hong Kong

    By Editors | 18/10/2022

    HSBC has reportedly sent a letter to most of its Russian retail clients in Hong Kong saying it is unable to provide them investment services because of sanctions imposed by the EU.

    AML / KYC

    Hong Kong Seeks Status as Global Hub for Virtual Assets

    By Manesh Samtani | 17/10/2022

    A new policy statement to be issued at Hong Kong FinTech Week may spell out plans to include retail investors in the city’s VASP regime.

    AML / KYC

    FCA Fines UK Challenger Bank for Weak AML Controls

    By Editors | 17/10/2022

    Gatehouse Bank failed to perform appropriate checks on customers based in high-risk countries and customers that were classified as PEPs.

    AML / KYC

    Thailand Creates Working Group to Tackle Social Media Scams

    By Editors | 16/10/2022

    Facebook accounts will be tracked and websites will be blocked if they are found to be promoting fraudulent investment schemes or raising funds illegally.

    AML / KYC

    Singapore: SMS Sender ID Registration to Become Mandatory

    By Editors | 15/10/2022

    All non-registered SMS sender IDs after 31 Jan 2023 will be channelled to a sender ID with the header “Likely-SCAM”.

    AML / KYC

    Glencore Facing Investor Lawsuits Following Bribery Conviction

    By Editors | 14/10/2022

    Sovereign wealth funds from the UAE, Kuwait and Norway, along with Abrdn, HSBC, Standard Life and others are among the claimants.

    AML / KYC

    Switzerland to Commence Work on Creating UBO Register

    By Editors | 14/10/2022

    A bill will be drafted by mid 2023 to create a central beneficial ownership register that will be accessible to authorities.

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