AML / KYC

AML / KYC

Westpac Faces Shareholder Class Action for Possible Disclosure Failures

By Editors | 23/12/2019

The class action, filed by law firm Phi Finney McDonald, will rest on whether Westpac breached disclosure obligations or misled investors about the extent of its AML compliance failures.

AML / KYC

SFC, CSRC Set Date for Southbound Investor Identification Regime

By Editors | 20/12/2019

With technical preparations now complete at exchanges and clearinghouses, southbound trading investor identification regime is scheduled for implementation on 13 January.

AML / KYC

Bursa Malaysia Adds Anti-Corruption Measures to Listing Requirements

By Editors | 20/12/2019

New requirements to have anti-corruption and whistle-blowing policies in place will promote better governance, accountability and transparency for investors.

AML / KYC

BSP Probes Ten Banks Linked to Westpac AML Violations

By Editors | 19/12/2019

The banks received funds for their clients through the Bank of the Philippine Islands, which was the local partner of the Westpac money transfer service known as LitePay.

AML / KYC

India Shows How Policy Can Solve Financial Inclusion: BIS Paper

By Editors | 19/12/2019

The paper highlights India’s Aadhaar programme, which promotes financial inclusion, offers more robust AML/CFT checks, and has led to the creation of several innovative and interoperable digital platforms.

AML / KYC

ICAC Charges Two in Bribery Scheme to Circumvent China Capital Controls

By Editors | 19/12/2019

A former CITIC branch manager accepted over HK$1mn in commissions for referring 6 bank clients to a money exchange company to remit money from the Mainland to Hong Kong.

AML / KYC

EU Authorities Issue Framework for Supervisory Cooperation on AML/CFT

By Editors | 19/12/2019

The guidelines set out a framework for bringing together AML/CFT supervisors, prudential supervisors and third-country regulators to coordinate on multi-juridictional AML/CFT matters.

AML / KYC

US SEC Settles FCPA Charges Against Goldman’s Tim Leissner

By Editors | 18/12/2019

Leissner has agreed to be permanently barred from the securities industry for violating antibribery, internal accounting controls, and books and records provisions of federal securities laws.

AML / KYC

Japan Identifies 1.9m Undeclared Offshore Accounts Through CRS

By Editors | 17/12/2019

Of the 1.89 million offshore accounts identified through information exchanges under the Common Reporting Standard, 80% were located in Asia and Oceania.