AML / KYC

AML / KYC

Hong Kong Set to Tighten Rules for Digital Wallets July 2021

By Editors | 15/12/2020

Non-real-name account holders will not be able to transfer money to other banks or e-wallets, or make cross-border remittances.

Press Release

Regulation Asia Awards for Excellence 2020 – Results Announcement

By Editors | 15/12/2020

Regulation Asia held its third annual Awards ceremony on 15 December 2020 to recognise those in the industry that have helped address changing regulatory requirements in Asia Pacific over the past year.

AML / KYC

AUSTRAC Releases Risk Assessment of Junket Tour Operators

By Sanday Chongo Kabange | 15/12/2020

AUSTRAC expects casinos to use the risk assessment to protect their businesses and communities from criminal threats such as money laundering.

AML / KYC

No Banks Subject to HKAA Secondary Sanctions: US Treasury

By Manesh Samtani | 13/12/2020

In a report to Congress, the Treasury said it has not identified any foreign FIs that “knowingly” conducted significant transactions with the ten individuals sanctioned in October.

AML / KYC

Australia: AML Bill Passes Senate, DNFBP Amendment Rejected

By Manesh Samtani | 13/12/2020

An AML bill introduced last October has passed the Senate but without last month’s amendment to include real estate agents, accountants, lawyers.

Big Picture

APAC Overtook US in AML Penalties For 2020: Fenergo

By Editors | 10/12/2020

APAC has overtaken the US in terms of the value of enforcement actions for the first time since 2015, largely due to the Goldman and Westpac cases.

AML / KYC

Global LEI Foundation to Develop ‘Cryptographically Verifiable LEIs’

By Editors | 10/12/2020

The ‘vLEI’ will create a cryptographically secure chain of trust that replaces manual processes required to access and confirm an entity’s LEI data.

AML / KYC

AUSTRAC Targets Disability Insurance Fraud in New Guidance

By Editors | 09/12/2020

A new financial crime guide details the indicators that can help financial services firms identify when NDIS fraud may be taking place.

AML / KYC

FATF Releases New Report on Trade-based Money Laundering

By Editors | 09/12/2020

A key finding of the report is that greater awareness about all aspects of the trade process would likely increase opportunities to detect and disrupt TBML.