AML / KYC

    AML / KYC

    SFC Imposes Lifetime Ban on Co-CEOs of IDS Forex Ltd

    By Editors | 23/04/2021

    The co-CEOs knew of their chairman’s arrest and conviction in Korea for fraud but did not report the events to the SFC.

    AML / KYC

    BaFin Files Criminal Complaint Against Deutsche Bank Exec

    By Manesh Samtani | 23/04/2021

    Alexander Schütz is suspected of using inside information to trade Wirecard shares. A separate probe into EY’s audits of Wirecard is continuing.

    AML / KYC

    Philippines: PhilSys National ID System Draws 28m Registrations

    By Editors | 22/04/2021

    The issuance of PhilSys ID cards is expected to start within 2021, eventually replacing most other forms of government-issued ID.

    AML / KYC

    ABN Amro to Settle Dutch AML Probe for €480m

    By Manesh Samtani | 22/04/2021

    ABN Amro conducted inadequate client due diligence, assigned risk classifications in an incorrect manner, and fell short in alert processing, among other failures.

    AML / KYC

    Taiwan to Require Crypto Sector to Comply with AML Rules

    By Sanday Chongo Kabange | 21/04/2021

    Crypto exchanges and trading platforms will have to comply with AML requirements for conventional banks starting 1 July.

    AML / KYC

    FSS Korea Mulls New Crypto Rules to Counter ‘Kimchi Premium’

    By Sanday Chongo Kabange | 20/04/2021

    The plan is a response to growing suspicions that investors are purchasing bitcoin from overseas exchanges with the intent of selling them in Korea at a premium.

    AML / KYC

    Taiwan Launches ‘MyData’ Platform With 15 Banks

    By Editors | 20/04/2021

    The platform allows consumers to use personal data stored by government agencies to facilitate their access to financial services.

    AML / KYC

    European Commission Publishes Strategy to Combat Human Trafficking

    By Sanday Chongo Kabange | 20/04/2021

    The 5-year strategy includes the use of financial investigations and the development of a framework to identify, seize and confiscate criminal assets.

    AML / KYC

    PBOC Finalises New AML Regulations for Financial Institutions

    By Manesh Samtani | 20/04/2021

    The new regulations take effect from 1 August 2021 and are applicable to non-bank financial institutions, overseas bank branches and holding subsidiaries.

    AML / KYC

    SG Police Probe 31 Individuals for China Official Impersonation Scams

    By Ranamita Chakraborty | 19/04/2021

    Victims were instructed to surrender money for fake investigations after being told their bank accounts were involved in money laundering activities.

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