AML / KYC

What Future AML Compliance Requires: A Technology Perspective

By Amber Qin | 10/11/2021

Intelligent AML solutions need to achieve a fine balance between compliance, transparency, effectiveness, and efficiency, say Amber Qin and Sophia Wu from Ant Group.

Enforcement

US Treasury Announces New Ransomware-related Sanctions

By Manesh Samtani | 09/11/2021

The US Treasury Department, OFAC, State Department, DOJ, and FinCEN have taken coordinated action to counter the ransomware threat.

Fintech / Regtech

Singapore to Deepen AI Capabilities in Financial Sector

By Mark Johnston | 09/11/2021

Singapore has pledged an additional S$180mn in additional AI research funding to enhance the financial sector’s AI capabilities.

AML / KYC

CCDI Draws Lessons on Corruption from Ex-ICBC Bankers

By Darien Choong | 08/11/2021

The two ex-bankers have relaxed risk controls and used customised rules to facilitate loan approvals for certain borrowers in exchange for bribes.

AML / KYC

Australia Launches New Director ID Regime

By Editors | 07/11/2021

Directors will face penalties for not applying for a director ID on time, for providing false ID information, or intentionally applying for multiple director IDs.

AML / KYC

HKMA Launches AMLab Series to Experiment with Network Analytics

By Editors | 07/11/2021

Five banks will work with data experts to experiment with the use of data analytics and network diagrams in identifying suspected money mules.

AML / KYC

CCDI Official Offers Glimpse of PBOC-linked Corruption Cases

By Darien Choong | 07/11/2021

Financial corruption and financial risks are intertwined, said senior inspector Xu Jiaai, speaking about corruption cases involving PBOC officials.

AML / KYC

India Undergoes National Risk Assessment on ML/TF Risks

By Editors | 07/11/2021

Central agencies including the RBI have been tasked with evaluating sectors that are vulnerable to ML/TF risks. India’s mutual evaluation is expected to take place around May 2022.

AML / KYC

MAS Proposes to Ease Retail Investor Access to Funds

By Manesh Samtani | 04/11/2021

Under the changes, only a small group of more complex CIS would continue to be considered complex products and subject to additional disclosure requirements.

AML / KYC

Japan to Require Companies to Disclose Major Shareholders

By Editors | 03/11/2021

Banks will be able to ask companies to submit information about their major shareholders when opening accounts or making loans.

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