AML / KYC

AML / KYC

Global Tax Evasion Probe Targets Euro Capital Bank, Puerto Rico

By Manesh Samtani | 18/10/2020

Euro Pacific Bank, founded in 2017 by Peter Schiff and Mark Anderson, is said to be used by up to 400 Australian nationals, about 100 of which are considered “high-risk”.

AML / KYC

APG Releases First Follow-up Report on Pakistan

By Editors | 18/10/2020

The APG says Pakistan has been re-rated from ‘partially compliant’ to ‘compliant’ on Recommendation 29 and has made progress on Recommendation 1.

AML / KYC

MAS’ Use of Tech to Enhance Regulatory, Supervisory Functions

By Manesh Samtani | 17/10/2020

A recent FSB report offered case studies of how regtech and suptech are being deployed by regulators, including several examples from MAS.

AML / KYC

G7 Calls for Global Adoption of FATF Standards on VASPs

By Editors | 16/10/2020

Effective implementation of the FATF Standards, including the ‘travel rule’, is needed to combat a recent surge in ransomware attacks.

AML / KYC

HKAA Sanctions Mark Formal Warning to Global Banks

By Manesh Samtani | 15/10/2020

International financial institutions conducting ‘significant transactions’ with the ten sanctioned individuals could face secondary sanctions.

AML / KYC

Philippines Begins Roll-out of New National ID System

By Editors | 15/10/2020

PhilSys will mean wider inclusion in the financial ecosystem for the unbanked, allowing cash aid, credit and other welfare spending to reach them faster.

AML / KYC

AUSTRAC Decides Against Afterpay Regulatory Action

By Editors | 15/10/2020

Afterpay has uplifted its AML/CTF compliance framework and financial crime function, and completed all remediation necessary to ensure compliance.

AML / KYC

G20 Ministers Extend DSSI Debt Relief, Welcome FSB, FATF Efforts

By Manesh Samtani | 14/10/2020

The G20 finance ministers and central bank governors have agreed to extend debt relief for low-income countries for six months, and welcomed efforts by the FSB and FATF.

AML / KYC

Bangladesh ACC Calls For Tighter KYC Rules for NBFIs

By Sanday Chongo Kabange | 14/10/2020

The Anti-Corruption Commission says some NBFIs and cooperative societies are not collecting detailed customer information through their KYC processes.