AML / KYC

AML / KYC

Crypto Should Re-examine Relationship with Regulators, and Vice Versa

By Andy Meehan | 25/09/2021

Andy Meehan says greater collaboration is needed between industry players and regulators to advance ‘sensible’ regulation and ensure the public is properly educated.

AML / KYC

China Targets Corruption with New Supervision Law

By Sanday Chongo Kabange | 25/09/2021

Supervisors are asked to crack down on the use of offshore companies and underground banks to transfer illegal income and property involved in duty-related crimes.

AML / KYC

FATF Report Highlights Opportunities for Japan’s FIs

By Matthew Field | 24/09/2021

Matthew Field discusses how Japan’s FIs can enhance the maturity of their AML programmes through a data-driven approach that places the customer entity in focus.

AML / KYC

CFTC Investigates Binance for Possible Insider Trading

By Manesh Samtani | 22/09/2021

Binance reportedly has plans to become a licensed financial institution, with a centralised headquarters, to make it easier to work with regulators.

AML / KYC

US Sanctions Crypto Firm Over Ransomware Payments

By Editors | 21/09/2021

OFAC has designated crypto OTC broker Suex, which operates from Russia, for facilitating transactions involving the proceeds of ransomware payments.

AML / KYC

Basel AML Index Calls Out Ineffectiveness Across Jurisdictions

By Manesh Samtani | 21/09/2021

Areas of AML/CFT policy that urgently need more attention are virtual assets, implementation effectiveness, beneficial ownership, and DNFBPs.

AML / KYC

Corruption, Bribery Seen as Key Challenges in 2020: Kroll

By Ranamita Chakraborty | 20/09/2021

A Kroll survey found that 82% of senior decision-makers for risk strategy felt corruption significantly impacted their organisations in 2020.

AML / KYC

Malaysia Secures Settlement from KPMG to Resolve 1MDB Claims

By Editors | 18/09/2021

The settlement concludes a civil suit filed against KPMG and its current and former partners over the audits 1MDB’s 2010-2012 financial statements.

AML / KYC

RBI Invites NBFCs to Apply for Aadhaar Authentication Licences

By Editors | 17/09/2021

With a KUA or sub-KUA licence, NBFCs will be able to authenticate client Aadhaar numbers using the e-KYC facility provided by UIDAI.