AML / KYC

    AML / KYC

    Financial Crime 2021: Digital ID, Due Diligence, Sanctions

    By Editors | 21/01/2021

    Last year’s financial crime landscape forced many FIs to rapidly adapt to evolving threats. In the year ahead, a continued focus on risk mitigation is prudent.

    AML / KYC

    HK Police Arrest Bank Staff for Money Laundering – Report

    By Editors | 20/01/2021

    The 7 individuals arrested are said to have helped a member of an international money laundering syndicate open at least 14 bank accounts.

    AML / KYC

    China Shuts Down Cross-border Gambling, Payments Platforms

    By Sanday Chongo Kabange | 20/01/2021

    The Ministry of Public Security arrested over 75,000 suspects and shut down thousands of online gambling platforms, payment platforms and underground banks in 2020.

    AML / KYC

    Australian Border Force Disrupts Money Laundering by Drug Cartels

    By Editors | 20/01/2021

    9 Australian and 7 international banks were used to launder A$500mn in illegal profits from the drug trade between 2014 and 2017.

    AML / KYC

    GLEIF Enhances LEI Search Engine, Automates Access to LEI Data

    By Editors | 19/01/2021

    A new API enables third-party developers to automate searches and retrieve higher quality LEI data from within their application environments.

    AML / KYC

    Lessons Learned From APAC’s Landmark Year of AML Fines

    By Payal Patel | 19/01/2021

    Drawing from landmark penalties in 2020, FINTRAIL’s Payal Patel and Sara Abbasi identify key lessons to help financial institutions guard against financial crime.

    AML / KYC

    UPDATED: Philippine Senate Approves Amendments to AML Law

    By Editors | 19/01/2021

    The approval comes ahead of an evaluation by the FATF, slated for February, as the Philippines seeks to avoid being gray-listed.

    AML / KYC

    US Sanctions Six More Chinese, Hong Kong Officials

    By Editors | 17/01/2021

    The latest designations are a response to the arrest of 53 pro-democracy politicians and activists this month. Hong Kong’s government called the move “insane, shameless and despicable”.

    AML / KYC

    SEBI Proposes New Process for KYC in Securities Market

    By Editors | 17/01/2021

    Under the proposal, KYC Registration Agencies, stock exchanges and depositories would be responsible for client KYC processes.

    AML / KYC

    PBOC Tripled AML Penalties in 2020 Compared to 2019

    By Editors | 13/01/2021

    Failures to perform customer identification and to report lar-value and suspicious transactions were the most frequent reason for the penalties.

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