AML / KYC

AML / KYC

Between a Rock and a Hard Place: FATF Faces an Iranian Crunch

By Tom Keatinge | 07/02/2020

A well-intentioned decision on Iran in 2016 has haunted FATF ever since. That decision is about to become a nightmare, says RUSI’s Tom Keatinge.

AML / KYC

EBA Consults on Revised ML/TF Risk Factors Guidelines

By Editors | 07/02/2020

The proposed changes will significantly strengthen Europe’s AML/CFT defences and foster greater convergence of supervisory practices, the EBA says.

AML / KYC

BOT Launches Digital Account Opening Tests at Six Banks

By Editors | 07/02/2020

Six banks will open online deposit accounts digitally, using facial recognition to verify customer identities against information held in the new National Digital ID platform.

AML / KYC

ACAMS Pledges Support for Anti-Slavery & Trafficking Initiative

By Editors | 06/02/2020

ACAMS will encourage financial crime professionals globally to adopt a blueprint for mobilising finance against modern slavery and human trafficking.

AML / KYC

US Law Firms Launch New Class Actions Against Westpac

By Editors | 04/02/2020

The class actions seek damages for investors who lost money on Westpac ADRs following the civil penalty orders filed against the bank by AUSTRAC last November.

AML / KYC

OCBC Speeds Up Criminal Probes Through Automated System ‘POET’

By Editors | 03/02/2020

‘POET’ digitally receives and responds to investigation requests with minimal human intervention, allowing OCBC to respond to law enforcement requests within 1-2 working days.

AML / KYC

BNM Publishes Consultation Response on New AML/CFT Framework

By Editors | 03/02/2020

BNM will publish further guidance on the methods used for verifying customer and beneficial owner information and for authenticating their documents.

AML / KYC

SEBI Panel Proposes Tighter Norms for Related Party Transactions

By Editors | 29/01/2020

Any member of the promoter group would be deemed a related party regardless of shareholding. Any shareholder with more than 20% of a listed company’s shares would also be deemed a related party.

AML / KYC

Sanctions Screening Short Cuts Not Worth the Risk: Refinitiv

By Manesh Samtani | 29/01/2020

Increasingly aggressive US sanctions policies highlight the need for financial institutions to adopt and implement a sophisticated risk-based approach to compliance.