AML / KYC

    AML / KYC

    HKMA to Enhance AML/CFT Supervision Through Data & Tech

    By Manesh Samtani | 29/09/2020

    The HKMA intends to increase its engagement and data collection, make better use of data, and utilise suptech tools to enhance its AML/CFT supervision.

    AML / KYC

    US Law Firms Look to Capitalise from FinCEN Files

    By Editors | 29/09/2020

    US law firms are inviting investors to participate in class actions if they lost money in HSBC and StanChart stock following the release of the FinCEN Files.

    AML / KYC

    GLEIF Defines New Framework to Simplify, Accelerate LEI Issuance

    By Manesh Samtani | 29/09/2020

    Many of the labor intensive and time-consuming procedures performed to obtain an LEI are the same as those performed by the FI during onboarding.

    AML / KYC

    The New Cold War Is Financial

    By Tom Keatinge | 29/09/2020

    Banks and financial infrastructure are emerging as an expanding front in geopolitics, writes RUSI’s Tom Keatinge.

    AML / KYC

    Crypto Industry Responds to FATF Red Flag Report

    By Nathan Smale | 28/09/2020

    New guidance from the FATF has been welcomed by the crypto industry, despite the compliance challenges it presents, writes Nathan Smale at Emfarsis.

    AML / KYC

    Gaming Out Sanctions Risk

    By Eric A. Sohn | 27/09/2020

    Sanctions specialist Eric Sohn explains how wargaming exercises can be used as a risk management tool to game out threats and enhance strategic planning.

    AML / KYC

    Stockbrokers’ Association Pushes Back Against AUSTRAC Proposal

    By Manesh Samtani | 25/09/2020

    AUSTRAC proposed in July to allow brokers to open accounts for new clients with flexibility to complete the customer identification procedure within five days.

    AML / KYC

    HKMA Issues Guidance on Remote Onboarding of Corporate Clients

    By Editors | 25/09/2020

    Onboarding processes should be designed reflecting the principle that CDD is not merely a document collection exercise, the HKMA says.

    AML / KYC

    Westpac, AUSTRAC Agree A$1.3bn Penalty for AML Breaches

    By Manesh Samtani | 24/09/2020

    If the Federal Court of Australia determines the penalty is appropriate, it will represent the largest ever civil penalty in Australian history.

    AML / KYC

    Westpac, AUSTRAC Close to Settlement Over AML Breaches

    By Editors | 24/09/2020

    The final penalty amount, which could reach as high as A$1.5bn, is expected to be announced at a joint press conference in coming days.

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