AML / KYC

AML / KYC

Prospects of Western–Japanese Coordination on Human Rights Sanctions

By Sasha Erskine | 15/05/2021

Japan will set itself apart as an active sanctioning partner in Asia and further boost the global effort to combat human rights violations, writes RUSI’s Sasha Erskine.

AML / KYC

Taiwan FSC Fines Citibank, DBS for AML Violations

By Editors | 14/05/2021

The regulator cited failures related to customer due diligence, review mechanisms, transaction monitoring, risk assessment, and investigations.

AML / KYC

Singapore: Former BP Director Jailed on Corruption Charges

By Editors | 14/05/2021

The former regional director was also ordered to pay a penalty of SGD 6.2 million and faces additional money laundering charges.

AML / KYC

UOB Customer Data Gets Leaked In Impersonation Scam

By Editors | 13/05/2021

Scammers obtained personal information of over 1,000 of UOB’s Chinese customers with Singapore accounts by deceiving a bank employee.

AML / KYC

Philippine SEC Rates Securities Sector for Money Laundering

By Sanday Chongo Kabange | 12/05/2021

The SEC found that investment houses and underwriters presented ‘medium-high’ risk, compared to ‘medium’ risk for the securities sector overall.

AML / KYC

MAS Consults on Proposed AML Notices for Foreign Offices, FRCs

By Manesh Samtani | 12/05/2021

MAS seeks comment on four notices, which contain requirements on record-keeping, internal policies, and the provision of records to MAS upon request.

AML / KYC

EBA Consults on Proposals for Central AML/CFT Database

By Editors | 12/05/2021

The central database will serve as an early warning tool to enable competent authorities to act before ML/TF risks crystalise and faciltiate inspections and monitoring.

AML / KYC

Korean Lawmakers Push for Tougher Crypto Legislation

By Sanday Chongo Kabange | 11/05/2021

Lawmakers are pushing for tougher crypto legislation to protect crypto investors against unfair practices and price manipulation.

AML / KYC

FMA, CLSA Premium NZ Agree Statement of Facts on AML Breaches

By Editors | 11/05/2021

The FMA is seeking a pecuniary penalty against CLSA Premium NZ and costs. The maximum penalty is NZD 2 million.