AML / KYC

AML / KYC

UPDATED – FinCEN Proposes Reporting, Recordkeeping Rules for Crypto

By Editors | 23/12/2020

Under the proposed rule, FIs will have to keep records of customers’ crypto transactions and counterparties, and whether they are using unhosted wallets.

AML / KYC

RBI Announces Extension of KYC Registry to Legal Entities

By Editors | 22/12/2020

The RBI said regulated entities should upload KYC data pertaining to accounts of legal entities to the Central KYC Registry from 1 April 2021.

AML / KYC

Taiwan to Lower Payment Thresholds for Customer Notification

By Editors | 21/12/2020

The move is aimed at combatting rising financial fraud as consumers increasingly prefer e-payments over the use of credit cards.

AML / KYC

Intermediaries Should Lay Down Anti-bribery Policies: SFC

By Editors | 21/12/2020

Intermediaries should draw reference from the sample code of conduct issued by the ICAC and provide appropriate training to directors, staff members and agents.

AML / KYC

ISDA Offers Guidance on Addressing Sanctions in Trading Agreements

By Editors | 20/12/2020

The guidance note helps parties consider whether it may be appropriate to include specific sanctions provisions in ISDA documentation.

AML / KYC

PBOC Publishes Roadmap for Full LEI Adoption in China

By Manesh Samtani | 18/12/2020

By end 2022, LEIs will be used in securities and derivatives trading, risk monitoring, regulatory reporting, listed company supervision and the digital yuan ecosystem.

AML / KYC

FATF Warns of Continued Criminal Exploitation of Covid-19

By Manesh Samtani | 17/12/2020

The effective use of technology to support onboarding and ensure effective information sharing has become even more important, the FATF says.

AML / KYC

Korea’s FIU Upgrades AML System to Boost Processing Capacity

By Editors | 17/12/2020

The upgraded AML system has increased KoFIU’s processing capacity by about five times, helping it address an increasing number of suspicious transaction reports it receives.

AML / KYC

MSCI, Nasdaq Announce Removal of Chinese Companies from Indices

By Editors | 17/12/2020

MSCI, Nasdaq, S&P Dow Jones Indices and FTSE Russell have now all announced the removal of Chinese companies from their indexes to comply with last month’s executive order.