AML / KYC

AML / KYC

AUSTRAC Publishes Regulatory Guides on Strengthen AML Controls

By Editors | 31/03/2021

The regulatory gives cover governance, risk assessments, customer due diligence, IFTIs reporting, and correspondent banking relationships.

AML / KYC

China Sanctions UK, US, Canadian Individuals and Entities

By Editors | 30/03/2021

The sanctions follow coordinated action by the US, EU, UK and Canada last week to sanction Chinese officials and entities over Xinjiang.

AML / KYC

MAS Offers New AML/CFT Guidance for VASPs

By Editors | 28/03/2021

MAS has identified several VASPs that have not come forward for licensing despite operating in Singapore or soliciting business from Singapore residents.

AML / KYC

US Sanctions Holding Companies Backing Myanmar Military

By Editors | 26/03/2021

The new sanctions target the Myanmar military’s control of significant segments of the country’s economy, which is a vital financial lifeline for the military junta.

AML / KYC

Compliance Costs Impacted by Technology, Covid: Report

By Sanday Chongo Kabange | 25/03/2021

Firms across APAC that allocate a higher percentage of compliance spend to technology have comparatively lower overall compliance cost.

Market Infrastructure

PBOC, SWIFT to Establish Cross-border Payment Stability

By Editors | 25/03/2021

The PBOC’s joint venture with SWIFT will build a localised messaging network to provide Chinese FIs with a more stable connection to the main SWIFT network.

AML / KYC

First North Korean Set to Face US Money Laundering Charges

By Manesh Samtani | 24/03/2021

Extradited to the US two years after his arrest in Malaysia, the North Korean national will face charges for money laundering, evading sanctions, and defrauding banks.

AML / KYC

Australian Treasury Consults on New Director ID Regime

By Ranamita Chakraborty | 23/03/2021

The director ID regime will help to promote good corporate conduct, deter illegal phoenix activities, and facilitate traceability of directors over time.

AML / KYC

Beijing Financial Court Created to Counter US Long Arm Jurisdiction

By Sanday Chongo Kabange | 23/03/2021

The extraterritorial application of China’s financial laws will play a bigger role in opening up the domestic market, the Supreme People’s Court said.