AML / KYC

    AML / KYC

    Financial Crime Country Lists in a Fragmenting World Order

    By Tom Keatinge | 30/10/2020

    Those that promote lists of countries that are slow to tackle financial crime must work harder to exclude politics and prove their integrity and value, says RUSI’s Tom Keatinge.

    AML / KYC

    HKAA Sanctions Impact ‘Relatively Muted’, For Now: IIF

    By Manesh Samtani | 29/10/2020

    One of the main concerns for Chinese banks is that a loss of access to dollar finance could hamper their ability to lend to corporate customers that rely on USD financing.

    AML / KYC

    PBOC Issues Draft AML Rules for Beijing Real Estate Sector

    By Editors | 27/10/2020

    The guidelines impose obligations on developers and intermediaries to strengthen AML supervision and management in real estate transactions.

    AML / KYC

    China Issues AML/CTF Guidelines for Microfinance Institutions

    By Editors | 27/10/2020

    The guidelines take immediate effect and are require microfinance institutions to report any transaction worth more than CNY 50,000 within 5 working days.

    AML / KYC

    US Agencies Target Cross-border Transfers in Proposed Rule Change

    By Editors | 26/10/2020

    Financial institutions will have to collect, retain, and transmit information related to any international transaction over $250, including those involving crypto assets.

    AML / KYC

    FATF to Drive Digital Transformation of AML/CFT Systems

    By Manesh Samtani | 26/10/2020

    Digital transformation of AML/CFT systems will help to ensure their resilience in future and build their efficiency, the FATF says.

    AML / KYC

    Australian Police Arrest NAB Employee on Fraud Charges

    By Editors | 25/10/2020

    The former employee faces charges for conspiring to cheat and defraud and attempting to launder A$21.6mn in illicit proceeds through NAB.

    AML / KYC

    FATF Adopts Measures to Mitigate Proliferation Financing Risk

    By Editors | 25/10/2020

    The changes are aimed at ensuring FIs and DNFBPs do not unwittingly support or become part of proliferation financing networks or schemes.

    AML / KYC

    MAS Bans Former BSI Banker Over 1MDB ‘Secret Profits’

    By Editors | 23/10/2020

    The former banker received about $5mn in fund management fees in an entity he beneficially owned, at the expense of and without the knowledge of BSI Bank.

    AML / KYC

    AUSTRAC Wants Lawyers, Accountants Under its AML Remit

    By Editors | 23/10/2020

    AUSTRAC chief Nicole Rose expressed concerns that professional facilitators are being used to evade money laundering detection.

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