AML / KYC

AML / KYC

AUSTRAC to Ramp Up Industry Guidance on AML Obligations

By Manesh Samtani | 09/11/2020

An unprecedented amount of AML/CTF information will be provided to industry in the next 6-12 months, says AUSTRAC’s David Hawkins.

AML / KYC

Hong Kong Lawmaker to Propose Bill to Combat Illegal Wildlife Trade

By Editors | 09/11/2020

The bill will seek to incorporate wildlife crimes into Hong Kong’s Organised and Serious Crimes Ordinance, allowing authorities to follow the money and prosecute syndicate leaders.

AML / KYC

FSC Korea to Introduce FATF-aligned AML Rules for VASPs

By Editors | 04/11/2020

Under the new rules, the ‘travel rule’ will apply to VASPs in respect of all virtual asset transactions worth more than KRW 1 million.

AML / KYC

MAS to Discontinue S$1,000 Note to Prevent Money Laundering

By Editors | 03/11/2020

Large denomination notes allow individuals to carry large values of money anonymously, and can facilitate money laundering and other illicit activities, MAS says.

AML / KYC

Hong Kong to Align Crypto Regulatory Framework with FATF Standards

By Manesh Samtani | 03/11/2020

The government proposes to introduce a new licensing regime for VASPs that trade non-security tokens, and a registration regime for dealers in precious metals and stones.

AML / KYC

Singapore Bill to Align Payment Services Act with FATF Standards

By Editors | 03/11/2020

The bill will expand the definition of a DPT service, broaden the definition of cross-border money transfer service, and allow MAS to impose measures on DPT services providers.

AML / KYC

What a New US Administration Could Mean for the Sanctions Landscape

By Guy Harrison | 01/11/2020

Guy Harrison compares the approaches to China, Iran and Russia we can expect from incumbent Donald Trump and candidate Joe Biden ahead of the US presidential election.

AML / KYC

Financial Crime Country Lists in a Fragmenting World Order

By Tom Keatinge | 30/10/2020

Those that promote lists of countries that are slow to tackle financial crime must work harder to exclude politics and prove their integrity and value, says RUSI’s Tom Keatinge.

AML / KYC

HKAA Sanctions Impact ‘Relatively Muted’, For Now: IIF

By Manesh Samtani | 29/10/2020

One of the main concerns for Chinese banks is that a loss of access to dollar finance could hamper their ability to lend to corporate customers that rely on USD financing.