AML / KYC

    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.

    AML / KYC

    Japan’s MUFG in Ongoing AML Probe by New York Regulators

    By Manesh Samtani | 23/11/2018

    The probe has been ongoing since late 2017, where MUFG is alleged to have intentionally ignored internal controls meant to prevent it doing business with sanctioned entities.

    AML / KYC

    Lessons from Singapore’s KYC Utility Project

    By Manesh Samtani | 21/11/2018

    The Association of Banks in Singapore has published a report detailing the core design decisions, achievements, challenges and lessons from the recently-shelved KYC utility project.

    AML / KYC

    Singapore Toughens Penalties for AML/CTF Offences

    By Manesh Samtani | 21/11/2018

    Penalties are being raised for AML/CTF offences and failures to file suspicious transaction reports, while Singapore also expands on its arrangements with foreign FIUs.

    AML / KYC

    MAS Payment Services Bill Finalised, Tabled in Parliament

    By Manesh Samtani | 19/11/2018

    The Bill aims to provide a more conducive environment for innovation in payment services, while ensuring that risks across the payments value chain are mitigated.

    AML / KYC

    Taiwan’s Progress Impresses APG, Despite Some Shortcomings

    By Manesh Samtani | 19/11/2018

    The APG was reportedly impressed by Taiwan’s performance during its third round of mutual evaluations, which concluded last week.

    AML / KYC

    OFAC Highlights Potential Gap in Singapore’s Sanctions Regime

    By Eric A. Sohn | 15/11/2018

    Singapore can do more to prevent sanctions violations by domestic firms playing out on the international stage, says Eric A. Sohn at Dow Jones Risk & Compliance.

    AML / KYC

    FATF Publishes Third Enhanced Follow-up Report on Australia

    By Editors | 09/11/2018

    Australia has been re-rated on 7 of the 40 FATF Recommendations, reflecting the country’s progress to strengthen AML/CFT measures since its 2015 mutual evaluation.

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