AML / KYC

AML / KYC

Final Phase of Meng Extradition Case to Be Delayed

By Sanday Chongo Kabange | 25/04/2021

The final phase of the extradition case is being delayed to allow Meng’s lawyers to examine documents being provided by HSBC as a result of a Hong Kong court ruling.

AML / KYC

BSP Renews Push for Changes to Bank Secrecy Law

By Editors | 23/04/2021

BSP Governor Benjamin Diokno expects a pending bill to be acted upon by Congress as early as May.

AML / KYC

SFC Imposes Lifetime Ban on Co-CEOs of IDS Forex Ltd

By Editors | 23/04/2021

The co-CEOs knew of their chairman’s arrest and conviction in Korea for fraud but did not report the events to the SFC.

AML / KYC

BaFin Files Criminal Complaint Against Deutsche Bank Exec

By Manesh Samtani | 23/04/2021

Alexander Schütz is suspected of using inside information to trade Wirecard shares. A separate probe into EY’s audits of Wirecard is continuing.

AML / KYC

Philippines: PhilSys National ID System Draws 28m Registrations

By Editors | 22/04/2021

The issuance of PhilSys ID cards is expected to start within 2021, eventually replacing most other forms of government-issued ID.

AML / KYC

ABN Amro to Settle Dutch AML Probe for €480m

By Manesh Samtani | 22/04/2021

ABN Amro conducted inadequate client due diligence, assigned risk classifications in an incorrect manner, and fell short in alert processing, among other failures.

AML / KYC

Taiwan to Require Crypto Sector to Comply with AML Rules

By Sanday Chongo Kabange | 21/04/2021

Crypto exchanges and trading platforms will have to comply with AML requirements for conventional banks starting 1 July.

AML / KYC

FSS Korea Mulls New Crypto Rules to Counter ‘Kimchi Premium’

By Sanday Chongo Kabange | 20/04/2021

The plan is a response to growing suspicions that investors are purchasing bitcoin from overseas exchanges with the intent of selling them in Korea at a premium.

AML / KYC

Taiwan Launches ‘MyData’ Platform With 15 Banks

By Editors | 20/04/2021

The platform allows consumers to use personal data stored by government agencies to facilitate their access to financial services.