AML / KYC

AML / KYC

The Need for Tranche 2 AML Reform in Australia

By Jeremy Moller | 18/11/2020

Norton Rose Fulbright’s Jeremy Moller highlights the advantages of regulating legal, accounting and real estate services under Australia’s AML laws, sooner rather than later.

AML / KYC

IMF Calls for Amendments to Philippine Bank Secrecy Laws

By Editors | 17/11/2020

The BSP should be granted “unimpaired access” to information on all customer accounts and the ability to employ and share depositor information for any prudential purpose.

AML / KYC

Philippine SEC Assesses Risk of Non-Profit Organisation Sector

By Editors | 17/11/2020

Based on the risk assessment, the SEC will implement “the most appropriate mitigation measures” to manage money laundering and terrorist financing risks.

AML / KYC

US Investors Barred from Buying Stocks Linked to Chinese Military

By Manesh Samtani | 15/11/2020

Index providers will likely be forced to remove companies like China Mobile and China Telecom from key benchmarks by 11 January.

AML / KYC

New Opportunities for Banks in Client Onboarding

By Stephan Wolf | 12/11/2020

By adjusting their onboarding processes, FIs can enhance their client experience, reduce costs and pave the way for new cross border services, explains GLEIF CEO Stephan Wolf.

AML / KYC

Philippine Authorities Probe Financial Transactions Linked to Wirecard

By Sanday Chongo Kabange | 11/11/2020

The National Bureau of Investigation is examining the financial transactions of a law firm office that appears to have provided legal services to Wirecard and Jan Marsalek.

AML / KYC

MAS Proposes to Strengthen FIs’ Identity Verification Process

By Editors | 10/11/2020

The proposed Notice will prohibit FIs from relying on common personal information such as NRIC number, residential address and date of birth as the sole means of identity verification.

AML / KYC

US Sanctions Four More Officials Over Hong Kong National Security Law

By Sanday Chongo Kabange | 10/11/2020

China’s Foreign Ministry says the move is a violation of the basic norms governing international relations, urging the US to withdraw the sanctions.

AML / KYC

SFC Eases Uncertainty Over National Security Law – Report

By Editors | 09/11/2020

Implementing US sanctions is unlikely to be considered a breach of the national security law. The SFC has dropped a plan to force cloud providers to share client data.