AML / KYC

AML / KYC

APG Re-rates Sri Lanka on One FATF Recommendation

By Editors | 11/11/2021

Sri Lanka extended its foreign exchange declaration requirements to include the full range of bearer negotiable instruments, in line with Recommendation 32.

AML / KYC

Wolfsberg Group Endorses ISO 20022 Screening Guidelines

By Sanday Chongo Kabange | 11/11/2021

Wolfsberg Group says the adoption of ISO 20022 enables improved adherence to the group’s own ‘Payments Transparency Principles’.

AML / KYC

What Future AML Compliance Requires: A Technology Perspective

By Amber Qin | 10/11/2021

Intelligent AML solutions need to achieve a fine balance between compliance, transparency, effectiveness, and efficiency, say Amber Qin and Sophia Wu from Ant Group.

Enforcement

US Treasury Announces New Ransomware-related Sanctions

By Manesh Samtani | 09/11/2021

The US Treasury Department, OFAC, State Department, DOJ, and FinCEN have taken coordinated action to counter the ransomware threat.

Fintech / Regtech

Singapore to Deepen AI Capabilities in Financial Sector

By Mark Johnston | 09/11/2021

Singapore has pledged an additional S$180mn in additional AI research funding to enhance the financial sector’s AI capabilities.

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.