AML / KYC

AML / KYC

Hong Kong: GDF Warns Against Restricting Retail Investment in Crypto

By Manesh Samtani | 16/02/2021

The November FSTB proposal to only allow VASPs to offer services to professional investors could prompt retail investors to move to unlicensed platforms, GDF says.

AML / KYC

UK Issues Draft Rules to Promote Trust in Digital Identity

By Editors | 15/02/2021

New draft rules are aimed at deepening trust and confidence in digital identities through the adoption of common standards to safeguard personal data and privacy.

AML / KYC

GLEIF to Implement New Policies, File Formats in Global LEI System

By Editors | 15/02/2021

Users must plan to implement the updated file formats to ensure uninterrupted access to LEI data beyond 31 March 2022, GLEIF said.

AML / KYC

AFP Charges Australian Man in Money Mule Recruitment Case

By Editors | 15/02/2021

The man is accused of recruiting individuals to unwittingly serve as money mules to launder the proceeds of crime in return for a commission.

AML / KYC

RBI Limits Investment in NBFCs from FATF Non-compliant Jurisdictions

By Editors | 15/02/2021

Investors from black-listed or grey-listed FATF jurisdictions will not be allowed to acquire ‘significant influence’ in NBFCs, the RBI said.

AML / KYC

Australian Court Jails Car Wash Owner for Money Laundering

By Editors | 14/02/2021

The man used express cash deposit facilities at Perth bank branches to help launder more than A$5.6mn for an alleged criminal syndicate.

AML / KYC

GLEIF Unveils Issuance, Infrastructure Models for Verifiable LEI

By Editors | 12/02/2021

The vLEI system will give legal entities the capacity to use non-repudiable identification data pertaining to their legal status, ownership structure and authorised representatives.

AML / KYC

Japan FSA to Roll Out New AML System in Fiscal 2021

By Editors | 12/02/2021

The FSA will share access to the new system, which will use AI to monitor for unusual transactions and persons suspected of illegal activity.

AML / KYC

CSRC Targets ‘Shadow Shareholders’ in New Guidelines

By Editors | 12/02/2021

A 36 month lock up period is being introduced for investors who purchase shares in companies within 12 months before their IPO applications.