AML / KYC

AML / KYC

RBNZ Issues Formal Warning to Westpac for AML Failures

By Editors | 11/08/2021

Westpac failed to report almost 8000 corporate transactions to overseas recipients between July 2018 and February 2019, the RBNZ said.

AML / KYC

North Korea Continues to Evade Sanctions – Report

By Editors | 10/08/2021

A draft report by a UN panel of experts says North Korea has continued to evade sanctions through open sea ship-to-ship transfers and other means.

AML / KYC

BSP to Finalise Members of Open Finance Body This Year

By Sanday Chongo Kabange | 10/08/2021

The open finance oversight committee which will formulate standards for consent-based data sharing will include representation from across the financial industry.

AML / KYC

China, UAE Agree to Exchange Intelligence on AML Investigations

By Editors | 09/08/2021

The FIUs in China and the UAE will exchange information on investigations concerning money laundering, terrorist financing, and the persons or entities involved.

AML / KYC

Good Intentions: The FATF Faces Its Own Unintended Consequences

By Tom Keatinge | 08/08/2021

The FATF’s unintended consequences study will point to necessary reforms that the watchdog will be unwilling to undertake.

AML / KYC

Australia to Introduce Magnitsky-style Sanctions Law

By Manesh Samtani | 08/08/2021

Australia will be able to impose targeted financial sanctions and travel bans against individuals and entities without the need for specific country-based regimes.

AML / KYC

Thai SEC Proposes UBO Registration Rules for Securities Firms

By Sanday Chongo Kabange | 08/08/2021

Securities firms offering trading, exchange or underwriting services will be required to ensure customers register their foreign beneficiaries.

AML / KYC

US DOJ Repatriates Additional $452bn in 1MDB Funds to Malaysia

By Editors | 08/08/2021

The total funds belonging to 1MDB that have been returned to date amount to over $1.2bn, the DOJ said in a statement.

AML / KYC

SEBI Allows Indian Fund Managers to Participate in FPIs

By Editors | 07/08/2021

KYC norms that required FPIs and institutional investors to disclose their personal information to SEBI have also been relaxed.