AML / KYC

AML / KYC

MAS Proposes Additional AML/CFT Requirements for FIs

By Manesh Samtani | 13/07/2021

MAS proposes requirements for dealings in precious stones and metals, transactions involving digital payment tokens, and customers that may be considered higher risk shell companies.

AML / KYC

NZ Issues AML/CFT Advisory On Sight Unseen Property Purchases

By Ranamita Chakraborty | 13/07/2021

Sight unseen real estate purchases are an attractive method of money laundering and terrorism financing, the Department of Internal Affairs says.

AML / KYC

Hong Kong Records Drop in Corruption Complaints in 2020: ICAC

By Ranamita Chakraborty | 12/07/2021

Corruption complaints concerning the finance and insurance subsectors registered the highest drop among all subsectors.

AML / KYC

AMLC Examines Philippine Exposure to Tax Crimes

By Ranamita Chakraborty | 12/07/2021

The study was conducted in light of the recent AML Act amendment which included the commission of tax crimes in the list of predicate offences for money laundering.

AML / KYC

BNM Allows MSBs to Onboard Corporate Customers Remotely

By Sanday Chongo Kabange | 12/07/2021

A new policy document sets out the minimum requirements MSBs must observe when onboarding corporate customers using non-face-to-face verification processes.

AML / KYC

Stablecoins Increasingly Used in Money Laundering, PBOC Says

By Editors | 12/07/2021

PBOC governor Fan Yifei says stablecoins are increasingly being used as a tool for illegal activities and money laundering.

AML / KYC

HK, Macau Police Arrest Break Up Romance Scam Syndicate

By Editors | 11/07/2021

The syndicate is said to have conned 10 local victims out of HKD 20 million and another seven out of HKD 1.5 million in Macau.

AML / KYC

HKMA Launches Campaign to Raise Awareness of Phishing

By Sanday Chongo Kabange | 08/07/2021

HKMA statistics show that phishing frauds in the first six months of 2021 were up 145% from the first half of 2020.

AML / KYC

US, Switzerland Announce New Sanctions Against Myanmar

By Sanday Chongo Kabange | 07/07/2021

The Treasury has sanctioned 22 more individuals connected to Myanmar’s military, while the Department of Commerce added four companies to its Entity List.