AML / KYC

AML / KYC

Hong Kong Asked to Bolster Sanctions Enforcement Amid Huawei Dispute

By Manesh Samtani | 11/12/2018

US officials have asked Hong Kong to bolster sanctions enforcement as Huawei’s deputy chairwoman stands accused of violating Iran sanctions through a Hong Kong shell company.

Fintech / Regtech

Australia Passes ‘Deeply Flawed’ Anti-Encryption Bill

By Manesh Samtani | 11/12/2018

The powers granted under the bill allow law enforcement agencies to compel access to encrypted messages, which could have broader implications for financial services.

AML / KYC

Malaysia Clarifies Regulatory Treatment of Cryptocurrencies

By Editors | 07/12/2018

ICO issuers and digital asset exchanges will be regulated by the Securities Commission and subject to AML/CTF guidelines, as well as BNM laws and regulations relating to payments.

AML / KYC

G20 Nations Commit to Regulating Cryptocurrencies

By Editors | 06/12/2018

G20 nations have signed a joint declaration calling for regulation of crypto assets to combat money laundering and terrorist financing.

Fintech / Regtech

TransUnion Online Service Suspended in Hong Kong – Reports

By Editors | 03/12/2018

The HKMA and privacy commissioner have demanded security improvements after reporters were able to access top officials’ credit reports through TransUnion’s online service.

AML / KYC

Philippine Central Bank Updates Rules on KYC, AML

By Editors | 03/12/2018

The BSP will require financial institutions to collect customers’ unique ‘PhilSys’ ID numbers, and allow the use of technology to capture and record personal data.

AML / KYC

Singapore Pushes Data Analytics, Collaboration to Counter Financial Crime

By Editors | 30/11/2018

A new report by Singapore’s AML/CFT Industry Partnership identifies key weaknesses of current approaches that can be addressed with data analytics and greater industry collaboration.

AML / KYC

South Korean Banks Vulnerable to Money Laundering Risks: FSC

By Editors | 29/11/2018

Banks are most exposed to money laundering risks due to the innate characteristics of their products and services, according to an FSC review of the domestic financial industry.

AML / KYC

Overcoming the Challenges of Cross-Jurisdictional Customer Onboarding

By Claus Christensen | 28/11/2018

A digital-first approach to customer onboarding can protect companies from internal delays, customer dissatisfaction, hefty regulatory fines and reputational risk, says Claus Christensen.