AML / KYC

AML / KYC

FATF to Develop Guidance on Disrupting Illegal Wildlife Trade

By Editors | 26/11/2019

Under its Chinese presidency, the FATF has made it a priority to help countries target money and criminal networks involved in the illegal wildlife trade.

AML / KYC

UPDATED – Westpac Announces Plan to Address AML/CTF Failings

By Editors | 26/11/2019

Westpac is determined to urgently fix the issues raised by AUSTRAC and lift its standards. ASIC and APRA have begun investigations into the bank.

AML / KYC

Singapore Company Director Jailed for North Korea Trade

By Editors | 25/11/2019

The Singapore man was reportedly selling luxury goods to a North Korean shop, shipping the goods via Dalian, and receiving payment via front companies in China and Hong Kong.

AML / KYC

SSE, SZSE Propose Rules Changes to Implement Investor ID Regime

By Editors | 25/11/2019

Under the regime, brokers must assign a unique digital code that identifies each investor, who will be “deemed to agree” that their information may be transferred to the Hong Kong SFC and SEHK.

AML / KYC

We Need to Accelerate Regtech Transition in AML Work: HKMA

By Manesh Samtani | 23/11/2019

We need to enable a wider application of technology to AML work in the sector, deputy chief Arthur Yuen said at the HKMA’s its first AML/CFT RegTech Forum on Friday.

AML / KYC

Bangladesh Publishes New National AML/CFT Strategy

By Editors | 23/11/2019

The national strategy contains 11 strategies along with 137 action plans, aimed at eliminating gaps identified in the 2016 mutual evaluation report from the APG.

AML / KYC

AUSTRAC Commences Legal Action Against Westpac for AML Breaches

By Editors | 20/11/2019

According to AUSTRAC’s statement of claim, each of the 23 million contraventions attracts a civil penalty between A$17mn and A$21mn.

AML / KYC

Singapore Re-Rated on Four FATF Recommendations

By Editors | 19/11/2019

Singapore is still rated ‘partially compliant’ on three FATF Recommendations for technical compliance, and will remain in enhanced follow-up.

AML / KYC

NAB Faces Potentially Significant AML Penalties

By Editors | 18/11/2019

NAB’s annual report says the bank has reported “a number of” AML/CTF compliance breaches to regulators, the potential outcome and costs of which remain uncertain.