AML / KYC

AML / KYC

SEBI Issues Measures to Protect Securities Market Client Records

By Editors | 18/10/2019

A new cybersecurity framework has been issued for KYC registration agencies. Stockbrokers, depository participants, registrars and transfer agents are asked to submit their quarterly reports by end-November.

AML / KYC

Japan Banks Exit Forex Business Amid AML Cost Concerns

By Editors | 17/10/2019

While smaller banks are exiting the foreign exchange business entirely, larger banks are raising counter service fees for overseas remittances.

AML / KYC

Technology Offers New Means to Fight Financial Crime: MAS

By Manesh Samtani | 17/10/2019

At the ICA’s 2nd Annual APAC Conference this week, MAS assistant managing director Loo Siew Yee talked about the new techniques being used to improve AML/CFT detection and risk mitigation.

AML / KYC

Philippines Makes Push to End Bank Secrecy

By Editors | 15/10/2019

BSP governor Benjamin Diokno has said the central bank wants to help convince lawmakers of the importance of lifting bank secrecy as part of a bill to grant amnesty to errant taxpayers.

AML / KYC

Refocusing the AML Model on Evidence and Outcomes

By Matthew Redhead | 14/10/2019

Under the current AML model, the ultimate focus for FIs is to protect the institution and the bottom line rather than reduce money laundering, says RUSI’s Matthew Redhead.

AML / KYC

Malaysia Passes Bill to Form New Anti-Financial Crime Body

By Editors | 13/10/2019

Expected to launch in January, the National Anti-Financial Crime Centre (NAFCC) will coordinate the efforts of 12 enforcement agencies to tackle financial crime.

AML / KYC

Stock Connect to Launch Southbound Investor ID Regime “Soon”

By Editors | 12/10/2019

The launch of the investor identification regime for southbound trading will mark the first time mainland investors will have their personal information shared with Hong Kong’s regulator.

AML / KYC

Fighting Financial Crime: HSBC Unveils New AML Tool

By CorporateTreasurer | 10/10/2019

The tool, which was deployed in the UK and Hong Kong on August 30, will be rolled out in a further 39 markets through 2020.

AML / KYC

Westpac Expected to Reveal New AML Provisions in Annual Report

By Editors | 09/10/2019

The bank disclosed since last year that it could be fined for nine years of AML failures, but it has not yet had enough information to make provisions against the possible penalties.