AML / KYC

AML / KYC

PBOC Issues Draft AML Rules for Beijing Real Estate Sector

By Editors | 27/10/2020

The guidelines impose obligations on developers and intermediaries to strengthen AML supervision and management in real estate transactions.

AML / KYC

China Issues AML/CTF Guidelines for Microfinance Institutions

By Editors | 27/10/2020

The guidelines take immediate effect and are require microfinance institutions to report any transaction worth more than CNY 50,000 within 5 working days.

AML / KYC

US Agencies Target Cross-border Transfers in Proposed Rule Change

By Editors | 26/10/2020

Financial institutions will have to collect, retain, and transmit information related to any international transaction over $250, including those involving crypto assets.

AML / KYC

FATF to Drive Digital Transformation of AML/CFT Systems

By Manesh Samtani | 26/10/2020

Digital transformation of AML/CFT systems will help to ensure their resilience in future and build their efficiency, the FATF says.

AML / KYC

Australian Police Arrest NAB Employee on Fraud Charges

By Editors | 25/10/2020

The former employee faces charges for conspiring to cheat and defraud and attempting to launder A$21.6mn in illicit proceeds through NAB.

AML / KYC

FATF Adopts Measures to Mitigate Proliferation Financing Risk

By Editors | 25/10/2020

The changes are aimed at ensuring FIs and DNFBPs do not unwittingly support or become part of proliferation financing networks or schemes.

AML / KYC

MAS Bans Former BSI Banker Over 1MDB ‘Secret Profits’

By Editors | 23/10/2020

The former banker received about $5mn in fund management fees in an entity he beneficially owned, at the expense of and without the knowledge of BSI Bank.

AML / KYC

AUSTRAC Wants Lawyers, Accountants Under its AML Remit

By Editors | 23/10/2020

AUSTRAC chief Nicole Rose expressed concerns that professional facilitators are being used to evade money laundering detection.

AML / KYC

Australia Launches Bribery Prevention Network

By Editors | 23/10/2020

The Bribery Prevention Network aims to support Australian businesses in addressing bribery and corruption risks in domestic and international markets.