AML / KYC

AML / KYC

FATF Commends China, Sri Lanka; Watchlists Cambodia

By Manesh Samtani | 26/02/2019

The Financial Action Task Force has marked the end of its fourth round of mutual evaluations with an announcement of its latest plenary session last week.

AML / KYC

AUSTRAC Trials Reporting Automation through Smart Contracts

By Editors | 26/02/2019

The proof of concept project commenced in December 2018 and aims to help reporting entities automate the reporting of international funds transfers to AUSTRAC.

AML / KYC

China Strengthens AML/CFT Regime with New Guidance

By Editors | 22/02/2019

CBIRC has released guidance to help financial institutions improve AML/CFT controls, on the heels of recent news that PBOC is scrapping its approval process for corporate accounts.

AML / KYC

AML Beyond Banking: The Increasing Scope of Global AML Regulation

By Claus Christensen | 20/02/2019

Increased transparency in the banking sector has made other avenues for money laundering gain greater prominence, writes Claus Christensen at Know Your Customer Ltd.

AML / KYC

SFC Fines Guosen Securities $1.94mn for AML Breaches

By Editors | 19/02/2019

The Hong Kong unit of Guosen Securities failed to make enquiries into or report thousands of suspicious third party deposits.

AML / KYC

Data Privacy, Cybersecurity, Conduct in Focus in APAC

By Manesh Samtani | 14/02/2019

Data privacy, conduct & culture, cybersecurity and AML will be in focus in APAC for the next three years, according to a new report from Fenergo.

AML / KYC

PBOC to Scrap Approval Process for Corporate Bank Account Opening

By Editors | 13/02/2019

The requirement to obtain PBOC approval for opening a corporate bank account will be scrapped nationwide by year-end, starting from 25 February.

AML / KYC

China Toughens Penalties for Underground Banks

By Editors | 12/02/2019

Operators of underground banks engaging in illegal forex trading and cross border transfers will face up to 5 years imprisonment, more in the most serious cases.

AML / KYC

Complying with AML/CTF Obligations in Australia

By Sophie Gerber | 06/02/2019

Sophie Grace director Sophie Gerber lays out the obligations reporting entities must adhere to for compliance with AML/CTF rules in Australia.