AML / KYC

AML / KYC

Malaysia Secures Settlement from Deloitte to Resolve 1MDB Claims

By Editors | 05/03/2021

Malaysia’s Finance Ministry is also negotiating a settlement with KPMG, which was replaced by Deloitte as auditor of 1MDB in 2013.

AML / KYC

Singapore Banks Asked to Monitor Myanmar Fund Flows

By Manesh Samtani | 05/03/2021

MAS is concerned about financial crime risk. New cash withdrawal limits have been imposed in Myanmar. A military-owned bank has suspended operations.

AML / KYC

Singapore Cuts Down Time to Freeze Bank Accounts

By Ranamita Chakraborty | 04/03/2021

Singapore Police have collaborated with over 20 FIs to reduce the time it takes to freeze bank accounts with suspected links to scammers.

AML / KYC

SEBI Consults on Creation of Accredited Investor Class

By Ranamita Chakraborty | 04/03/2021

SEBI says the new investor classification can help it to focus its regulatory resources on investors that need more protection and facilitate innovation in the securities market.

AML / KYC

FATF Releases Draft Guidance on Proliferation Financing Risk

By Manesh Samtani | 02/03/2021

The FATF is seeking feedback on the guidance from financial institutions and DNFBPs and will revise the text ahead of June 2021 discussions.

AML / KYC

UK Court Clears Extradition of Nirav Modi to India

By Ranamita Chakraborty | 02/03/2021

Indian diamond billionaire Nirav Modi has been a key suspect in the $2bn fraud at Punjab National Bank, which was first reported three years ago.

AML / KYC

China Renews Anti-corruption Drive with Global Crackdown

By Editors | 02/03/2021

Several government departments including the PBOC will work together to track down corrupt Chinese fugitives and recover ill-gotten gains.

AML / KYC

Huawei Launches Hong Kong Court Proceedings Against HSBC

By Editors | 02/03/2021

Huawei is seeking internal HSBC documents it says will help it defend against its CFO Meng Wanzhou’s extradiction to the US to face bank and wire fraud charges.

AML / KYC

Philippine SEC Orders Corporations to Declare Beneficial Owners

By Ranamita Chakraborty | 01/03/2021

Corporations in the Philippines have until 31 March to submit an online form declaring their beneficial owners, principals and nominee arrangements.