AML / KYC

AML / KYC

Travel Restrictions Holding Up Wealth Management Connect

By Manesh Samtani | 10/03/2021

PBOC official Bai Hexiang said the Wealth Management Connect scheme can be implemented once people can travel freely between Hong Kong, Macau and the mainland.

AML / KYC

China to Bolster Legal Defences Against Foreign Sanctions

By Editors | 09/03/2021

China plans to accelerate legislation designed to guard against foreign sanctions, interference and long-arm jurisdiction, a top lawmaker has said.

AML / KYC

SEBI Updates Rules on UCC, PAN Use in Commodity Derivatives

By Sanday Chongo Kabange | 09/03/2021

Execution of commodity derivatives trades will be prohibited without an upload of clients’ UCC details, which should be accompanied by the PAN or e-PAN.

AML / KYC

HK Bourse Offers Guidance on Compliance with BCAN Requirements

By Editors | 08/03/2021

Exchange participants are “strongly advised” to strengthen controls and take immediate action to rectify any breaches of BCAN requirements.

AML / KYC

KoFIU’s New AML System Showing ‘Significant Improvements

By Editors | 08/03/2021

The new STR filing system and the screening and analysis process have been made more efficient, while guaranteeing better system security and stability.

AML / KYC

John McAfee Indicted for Crypto-related Fraud, Money Laundering

By Sanday Chongo Kabange | 08/03/2021

McAfee and his associate allegedly used their large Twitter following to promote altcoins and ICOs to investors through a so-called pump-and-dump scheme.

AML / KYC

FATF Publishes Guidance on Risk-based AML/CFT Supervision

By Editors | 08/03/2021

The guidance includes practical advice to address common challenges in risk-based supervision, including examples of strategies for supervising DNFBPs and VASPs.

AML / KYC

GLEIF Sets Out Process for Validation Agent Trial Phase

By Editors | 07/03/2021

The goal of the Validation Agent role is to streamline the LEI issuance process by enabling FIs to directly liaise with LEI Issuers on clients’ behalf during onboarding.

AML / KYC

GFI Offers Recommendations on Advancing FinCEN Reforms

By Editors | 06/03/2021

Global Financial Integrity says money laundered from tax evasion and illicit funds entering the US financial system from overseas are estimated at $1tr.