AML / KYC

AML / KYC

Fintel Alliance Secures Win Against ‘Cuckoo Smurfing’ Syndicate

By Ranamita Chakraborty | 16/03/2021

ANZ’s link analysis capability allowed the rapid interrogation of combined banking datasets, which led to the arrests of five individuals involved in an international cuckoo smurfing syndicate.

AML / KYC

HK, China Working to Simplify Cross-border Account Opening

By Editors | 15/03/2021

Regulators are reportedly working to simplify cross-border bank account opening processes to facilitate the launch of Wealth Management Connect.

AML / KYC

SFC Fines Sino-Rich Securities & Futures for AML Breaches 

By Editors | 15/03/2021

Sino-Rich Securities & Futures routinely processed 238 cash deposits and 269 third party transfers without adequate AML/CTF controls in place.

AML / KYC

FATF, Egmont Group Identify 35 Indicators of TBML Risk

By Manesh Samtani | 14/03/2021

The indicators are grouped into four categories: the structure of the business, trade activity, trade documents and commodities, and account and transaction activity.

AML / KYC

APRA Ends Westpac Probe into Possible Banking Law Breaches

By Editors | 14/03/2021

The investigation did not find evidence of breaches of the Banking Act or the BEAR, according to APRA Deputy Chair John Lonsdale.

AML / KYC

Thailand to Launch Standard Form for Capital Market Access

By Editors | 13/03/2021

From 1 July, all intermediaries will use a standard form for account opening, providing investors easier access to stocks, debt instruments, mutual funds and derivatives.

AML / KYC

SEBI Rolls Out KYC Registry Extension to Legal Entities

By Editors | 13/03/2021

Regulated entities are directed to upload KYC data for accounts of legal entities to the Central KYC Registry.

AML / KYC

Bangladesh Officials Confirm Use of Bitcoin to Finance Terrorism

By Editors | 13/03/2021

Two arrested militants have reportedly confessed to receiving funds through Bitcoin from extremist groups since 2014.

AML / KYC

Addressing Financial Crime Through Data-driven Compliance

By Heather Lee | 13/03/2021

Given the rapid growth of digital technologies in financial services, the most effective way to defeat financial criminals today is to ‘follow the data’, says SWIFT’s Heather Lee.