AML / KYC

AML / KYC

Corporate Registries Should Issue LEIs in Bulk: BIS Paper

By Manesh Samtani | 25/06/2022

Bulk LEI issuance by corporate registries would enhance the efficiency and reliability of data collection and reduce the per-company cost of applying for an LEI.

AML / KYC

Wolfsberg Group Calls for Greater Use of PPPs for AML/CTF

By Manesh Samtani | 24/06/2022

PPPs provide the most direct and impactful opportunity for FIs to collaborate with public sector stakeholders to identify and address financial crime risks.

AML / KYC

NSW to Strengthen State AML Laws to Target Organised Crime

By Editors | 24/06/2022

New legislation will be introduced around September to enable police to stop-and-search for and seize unexplained wealth and ban encrypted devices.

AML / KYC

US Sanctions Companies in HK, UAE for Iran-linked Dealings

By Editors | 23/06/2022

The sanctions came on the back of attempts by the US to restore the JCPOA, for which Iran is demanding some sanctions be lifted.

AML / KYC

PBOC Eases Overseas Transactions Rules for Domestic Payment Firms

By Darien Choong | 23/06/2022

Domestic payments institutions can use the cross-border CNY settlement services of banks for e-commerce and ‘new models’ of foreign trade.

AML / KYC

AUSTRAC Focuses Efforts on Gambling Sector, Prosecutions

By Sanday Chongo Kabange | 22/06/2022

AUSTRAC CEO Nicole Rose says the gambling sector must invest in robust compliance and AML programmes.

Crypto / Digital Assets

Taiwan Central Bank Warns Against Investing in NFT Market

By Darien Choong | 22/06/2022

NFTs are not suitable for retail investors, due to a lack of regulation, liquidity, and clarity over ownership, the central bank says.

AML / KYC

Myanmar Considers Joining SPFS, Russia’s SWIFT Alternative

By Editors | 21/06/2022

Myanmar is negotiating the possibility of joining SPFS, an alternative to SWIFT, as well as the use of Russian Mir cards in Asia.

AML / KYC

HK Customs Arrests Woman for Suspected Laundering of HK$350m

By Editors | 21/06/2022

The woman used 23 personal bank accounts to launder the money over three years, mostly for shell companies set up by individuals from mainland China.