AML / KYC

AML / KYC

Addressing Financial Crime Through Data-driven Compliance

By Heather Lee | 13/03/2021

Given the rapid growth of digital technologies in financial services, the most effective way to defeat financial criminals today is to ‘follow the data’, says SWIFT’s Heather Lee.

AML / KYC

HK Court Sentences Two for Mortgage Fraud, Money Laundering

By Ranamita Chakraborty | 13/03/2021

A ICAC investigation found that two former employees of a law firm defrauded licensed money lenders of mortgage loans totalling HK$20mn.

AML / KYC

OFAC Sanctions Adult Children of Myanmar Military Leader

By Editors | 11/03/2021

The two adult children of the commander-in-chief of Myanmar’s military, Min Aung Hlaing, and six of their companies, have been designated by OFAC.

AML / KYC

GLEIF to Accelerate the LEI Integration in Digital Certificates

By Editors | 11/03/2021

GLEIF will work with Certification Authorities and Trust Service Providers to develop and promote best practices for the use of LEIs in digital certificates.

AML / KYC

Singapore Police Arrest Man Over China Official Impersonation Scam

By Editors | 11/03/2021

The man received over S$209,000 from a woman who was told she was under investigation and needed to resolve the case.

AML / KYC

SWIFT Embeds ESG Due Diligence in KYC Registry

By Editors | 11/03/2021

The integration of the ICC’s Guidelines into SWIFT’s KYC Registry allows corporates to only complete and update a single form to provide ESG information to different banking partners.

AML / KYC

FSC Korea Proposes New Penalty Standards for VASPs

By Editors | 11/03/2021

FIs and VASPs can be penalised for failing to report and maintain records of suspicious transactions, and failures to properly manage customers’ transactions records.

AML / KYC

HK: BNO Passports May Not be Used for Early MPF Withdrawal

By Editors | 11/03/2021

MPF scheme members cannot rely on a BN(O) passport or its associated visa as evidence in support of an application for early withdrawal of MPF.

AML / KYC

Travel Restrictions Holding Up Wealth Management Connect

By Manesh Samtani | 10/03/2021

PBOC official Bai Hexiang said the Wealth Management Connect scheme can be implemented once people can travel freely between Hong Kong, Macau and the mainland.