AML / KYC

    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.

    AML / KYC

    BOT Plan to Allow Biometric e-KYC Delayed in Testing

    By Editors | 09/10/2019

    The BOT had planned to allow the use of biometric identity verification for account opening by Q3 this year, but testing in the sandbox has not yet been completed.

    AML / KYC

    Singapore Banker Faces 94 Charges for S$1.9m Fraud

    By Editors | 08/10/2019

    The former banker allegedly told his victims their funds would be placed as fixed deposits or in financial products, resulting in client losses over S$1.9mn.

    AML / KYC

    India Establishes High Level Panel on AML/CFT

    By Editors | 08/10/2019

    The inter-ministerial committee comprises senior officials from government departments, ministries, law enforcement agencies and regulatory bodies, including the RBI, SEBI and IRDAI.

    AML / KYC

    Thailand Cabinet Approves Draft AML Regulations

    By Editors | 08/10/2019

    Under the rules, financial institutions will be required to obtain additional source of funds information from customers for cross-border transfers exceeding 50,000 baht.

    AML / KYC

    APG Publishes Final Mutual Evaluation Report for Taiwan

    By Editors | 03/10/2019

    Taiwan has achieved very significant progress in a short period of time, and supervisors have significantly influenced compliance in a positive way, the APG says in its mutual evaluation report.

    AML / KYC

    AUSTRAC Orders AML/CTF Audit at PayPal Australia

    By Editors | 24/09/2019

    AUSTRAC’s order follows a self-reported issue PayPal detected in its reporting system for international fund transfer instructions, which it said it was working to remediate.

    AML / KYC

    Taiwan Seeks Significantly Higher Penalties for Tax Evasion

    By Editors | 24/09/2019

    Reports indicate there is considerable support to raise the maximum fine for tax evasion from NT$60,000 to NT$100mn.

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