AML / KYC

AML / KYC

FSS Korea Mulls New Crypto Rules to Counter ‘Kimchi Premium’

By Sanday Chongo Kabange | 20/04/2021

The plan is a response to growing suspicions that investors are purchasing bitcoin from overseas exchanges with the intent of selling them in Korea at a premium.

AML / KYC

Taiwan Launches ‘MyData’ Platform With 15 Banks

By Editors | 20/04/2021

The platform allows consumers to use personal data stored by government agencies to facilitate their access to financial services.

AML / KYC

European Commission Publishes Strategy to Combat Human Trafficking

By Sanday Chongo Kabange | 20/04/2021

The 5-year strategy includes the use of financial investigations and the development of a framework to identify, seize and confiscate criminal assets.

AML / KYC

PBOC Finalises New AML Regulations for Financial Institutions

By Manesh Samtani | 20/04/2021

The new regulations take effect from 1 August 2021 and are applicable to non-bank financial institutions, overseas bank branches and holding subsidiaries.

AML / KYC

SG Police Probe 31 Individuals for China Official Impersonation Scams

By Ranamita Chakraborty | 19/04/2021

Victims were instructed to surrender money for fake investigations after being told their bank accounts were involved in money laundering activities.

AML / KYC

Philippine Banks May Face ‘Systemic Solvency Distress’: IMF

By Ranamita Chakraborty | 19/04/2021

Bank capital adequacy could fall to 11.7% by 2022 in a baseline scenario, 9.3% in an adverse scenario, and 4.9% in a severe adverse scenario.

AML / KYC

China Cracks Down on Payments from Underground Banks

By Sanday Chongo Kabange | 19/04/2021

Criminal groups reportedly colluded with underground banks to launder money by disguising their illegal proceeds as payments for goods.

AML / KYC

Australia Launches Next Phase of Business Registry Modernisation

By Ranamita Chakraborty | 19/04/2021

Commissioner of Taxation Chris Jordan was appointed Registrar of the new ABRS, which will unify 32 business registers in Australia.

AML / KYC

US Sanctions Russia Over Election Interference, Cyber Attack

By Manesh Samtani | 16/04/2021

US banks will be barred from purchasing rouble-denominated sovereign bonds in the primary market starting from 14 June.