AML / KYC

AML / KYC

Singapore Bill to Align Payment Services Act with FATF Standards

By Editors | 03/11/2020

The bill will expand the definition of a DPT service, broaden the definition of cross-border money transfer service, and allow MAS to impose measures on DPT services providers.

AML / KYC

What a New US Administration Could Mean for the Sanctions Landscape

By Guy Harrison | 01/11/2020

Guy Harrison compares the approaches to China, Iran and Russia we can expect from incumbent Donald Trump and candidate Joe Biden ahead of the US presidential election.

AML / KYC

Financial Crime Country Lists in a Fragmenting World Order

By Tom Keatinge | 30/10/2020

Those that promote lists of countries that are slow to tackle financial crime must work harder to exclude politics and prove their integrity and value, says RUSI’s Tom Keatinge.

AML / KYC

HKAA Sanctions Impact ‘Relatively Muted’, For Now: IIF

By Manesh Samtani | 29/10/2020

One of the main concerns for Chinese banks is that a loss of access to dollar finance could hamper their ability to lend to corporate customers that rely on USD financing.

AML / KYC

PBOC Issues Draft AML Rules for Beijing Real Estate Sector

By Editors | 27/10/2020

The guidelines impose obligations on developers and intermediaries to strengthen AML supervision and management in real estate transactions.

AML / KYC

China Issues AML/CTF Guidelines for Microfinance Institutions

By Editors | 27/10/2020

The guidelines take immediate effect and are require microfinance institutions to report any transaction worth more than CNY 50,000 within 5 working days.

AML / KYC

US Agencies Target Cross-border Transfers in Proposed Rule Change

By Editors | 26/10/2020

Financial institutions will have to collect, retain, and transmit information related to any international transaction over $250, including those involving crypto assets.

AML / KYC

FATF to Drive Digital Transformation of AML/CFT Systems

By Manesh Samtani | 26/10/2020

Digital transformation of AML/CFT systems will help to ensure their resilience in future and build their efficiency, the FATF says.

AML / KYC

Australian Police Arrest NAB Employee on Fraud Charges

By Editors | 25/10/2020

The former employee faces charges for conspiring to cheat and defraud and attempting to launder A$21.6mn in illicit proceeds through NAB.